If $\$ 600$ Is Invested At $4 \%$ Interest, Compounded Annually, Then After

question 25

Multiple Choice

If $\$ 600$ is invested at $4 \%$ interest, compounded annually, then after $n$ years the investment is worth $a _ { n } = 600 ( 1.04 ) ^ { n }$ dollars. Find the size of investment after 7 years.

• A) \(\$ 430.21\)
• B) \(\$ 1,860.81\)
• C) \(\$ 1,230.81\)
• D) \(\$ 789.56\)
• E) \(\$ 1,321.06\)

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