An amount of $25 000 is invested for six years. Interest is earned at a rate of 8% per annum, compounding quarterly.
Which expression gives the value of the investment after 6 years, in dollars?
- `25\ 000 xx 1.02^{24}`
- `25\ 000 xx 1.02^{6}`
- `25\ 000 xx 1.08^{24}`
- `25\ 000 xx 1.08^{6}`