You Have an Investment That Will Mature for $6825 in 57

Multiple Choice

You have an investment that will mature for $6825 in 57 months. You sell the investment 21 months before maturity. The discount rates used are 5.6% compounded quarterly for the first nine months of the discount period (from the date of maturity) and then 4.92% compounded monthly for the remaining discount period. How much did you sell the investment for?

A) $6262.54
B) $6232.54
C) $6223.54
D) $6632.54
E) $6666.54