On January 1, 2019, Alex Deposited $3,500 into a Savings

question 150

Multiple Choice

On January 1, 2019, Alex deposited $3,500 into a savings account that pays interest of 8 percent, compounded annually. If he makes no further deposits or withdrawals, how much will Alex have in his account on December 31, 2021 (3 years later) ?

• A)$4,340.
• B)$4,409.
• C)$3,780.
• D)$4,478.

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Definitions:

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