Assume That $400 Is Deposited at the End of Each

Multiple Choice

Assume that $400 is deposited at the end of each year into an account in which interest is compounded annually at a rate of 8.5%.Find the accumulated amount after 5 years.Round to the nearest cent.

A) $2,384.60
B) $2,399.05
C) $2,370.15
D) $2,330.25
E) $2,351.80