DAVID DEPOSITS $1,500 IN A 3-YEAR TERM DEPOSIT THAT PAYS 4% INTERES...

6. David deposits $1,500 in a 3-year term deposit that pays 4% interest with quarterly compounding. At the end of three years, he transfers the amount to another 3-year term deposit that pays 5% interest with monthly compounding. How much will he have 6 years from now? A) $1,953 B) $1,963 C) $5,420 D) $6,234 E) $14,761