Manager of the money market fund has invested $4.2 million in certificates of deposit which pay interest at rate of 5.4%/year compounded quarterly over the period of five years. How much will investment be worth at the end of five years?
i) 1,291,921.88
ii) 3,211,990.34
iii) 5,491,921.88
iv) 12,024,347.20