If $1,000 Is Invested in an Account with 4% Interest

question 124

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

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