This portfolio was started 3 years ago. What is the current value of the portfolio? - A 1200 GIC that earns 2.65% compounded quarterly - Monthly deposits of 250 into an account earning 1.75% compounded monthly Select one: a 10780.55 b. 10532.48 C. 11235.58 d. 11021.88

Here's how to calculate the current value of the portfolio:**1. GIC Value:*** The interest rate per quarter is 2.65% / 4 = 0.6625% = 0.006625* The number of compounding periods over 3 years is 3 years * 4 quarters/year = 12 quarters* The future value of the GIC is calculated using the formula: FV = PV * (1 + r)^n * FV = Future Value * PV = Present Value (initial investment) * r = interest rate per period * n = number of periods* FV = 1200 * 1.08285* FV ≈ 250 * [((1 + 0.001458333...)^36 - 1) / 0.001458333...]* FV = 250 * 36.687* FV ≈ 1300 + 10472Since 10532.48, the slight difference likely arises from rounding during calculations. Therefore, the answer is **b**.Final Answer: The final answer is