On January 1, 2016, Alex Deposited $5,000 into a Savings

question 165

Multiple Choice

On January 1, 2016, Alex deposited $5,000 into a savings account that pays interest of 5 percent, compounded annually. If he makes no further deposits or withdrawals, how much will Alex have in his account on December 31, 2018 (3 years later) ?

• A) $5,750.
• B) $5,788.
• C) $5,813.
• D) $5,825.

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