You Have Just Remembered That Four Years Ago You Placed

Multiple Choice

You have just remembered that four years ago you placed $1,000 in a bank account.If the bank was paying an annual rate of return of 8% during that time,how much should you have in your forgotten account?

A) $1,253.03
B) $1,360.49
C) $1,321.92
D) $1,301.92