If $1 000 Is Invested in an Account with 4

question 6

Multiple Choice

If $1 000 is invested in an account with 4% interest compounding yearly, what will the balance of the account be after 4 years? (You may ignore small differences that result from rounding.)

• A)$1 040
• B)$1 170
• C)$1 240
• D)$1 218