Assume That $1,200 Is Deposited in an Account in Which

question 262

Multiple Choice

Assume that $1,200 is deposited in an account in which interest is compounded annually at a rate of 5%.Find the accumulated amount after 10 years rounded to the nearest cent.

• A)$1,854.67
• B)$1,954.67
• C)$1,904.67
• D)$2,054.67
• E)$2,354.67