Multiple Choice
Assume that on 1 January 2011 you deposit $1000 into a savings account that pays 8% p.a.If the bank compounds interest annually,how much will you have in your account on 1 January 2014?
A) $1292.43
B) $1357.61
C) $1259.71
D) $1439.16
Correct Answer:
Verified
Correct Answer:
Verified
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