Calculate, to the nearest cent, the future value of an investment of 12000 after 3 years, at 1.5% per year, compounded quarterly (times per year).

To solve, apply the formula of compounding interest.

`A = P(1+r/n)^(nt)`

where 

A is the accumulated value after t years

P is the principal amount

r is the rate

n is the number of compounding periods in a year, and

t is the number of years.

The given in the problem are:

P=$12000     r=1.5%     n=4     and     t=3

Plugging them to the formula yields:

`A=12000(1+0.015/4)^(4*3)=12000(1.00375)^12=12551.2779`

Rounding off to nearest cent, it becomes 12551.28 .

Therefore, future value of the investment is $12551.28  . 

(Note: Assume that the investment is in dollars.)