Find the maturity value and amount of interest earned on an investment of $1,200 invested for 5 years at 7% compounded quarterly. Round your answer to the nearest cent.
A. maturity value: $16,492.19;
interest: $15,292.19
B. maturity value: $30,195.25;
interest: $28,995.25
C. maturity value: $6,431.15;
interest: $5,231.15
D. maturity value: $1,584.68;
interest: $384.68
E. maturity value: $1,697.73;
interest: $497.73
Answer: E
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