Solve the Problem. -Find the Amount in a Savings Account at the End

Multiple Choice

Solve the problem.
-Find the amount in a savings account at the end of 8 years if the amount originally deposited is $1,000 andthe interest rate is 7% compounded quarterly. A = final amountP = $1,000 (the initial deposit) r = 7% = 0.07 (the annual rate of interest) n = 4 (the number of times interest is compounded each year) t = 8 (the duration of the deposit in years)

A) $1,742.21
B) $1,916.43
C) $32,560.00
D) $1,148.88