Assume That $1,200 Is Deposited in an Account in Which

Multiple Choice

Assume that $1,200 is deposited in an account in which interest is compounded 8 times a year, at an annual rate of 7%.Find the accumulated amount after 3 years.Round your answer to the nearest cent.

A) $1,579.06
B) $1,779.06
C) $1,379.06
D) $1,429.06
E) $1,479.06