Answer:
$1122.74
Explanation:
We are to find the future value of $740
The formula for calculating future value:
FV = P (1 + r/m)^nm
FV = Future value
P = Present value
R = interest rate = 6
N = number of years = 7
m = number of compounding = 4
$740 x (1 + 0.06/4)^7x4 = $1122.74
