Suppose a New Business Makes a $1,000 Profit in Its

Multiple Choice

Suppose a new business makes a $1,000 profit in its first month and has its profit increase by 9% each month for the next 2 years. How much profit will it earn in its first year? Round your answer to the nearest cent. ​

A) $2,014.07
B) $7,523.33
C) $40,281.44
D) $20,140.72
E) $76,789.81