Suppose That You Placed $500 in a Bank Account at the End

Multiple Choice

Suppose that you placed $500 in a bank account at the end of each year for the next 10 years.How much would be in that account at the end of the tenth year if the deposits earned an annual rate of return of 8% each year?

A) $8,079.46
B) $5,400.00
C) $7,243.28
D) $6,355.04
E) $7,774.51