You Deposited $1,000 in a Savings Account That Pays 8

Multiple Choice

You deposited $1,000 in a savings account that pays 8 percent interest,compounded quarterly,planning to use it to finish your last year in college.Eighteen months later,you decide to go to the Rocky Mountains to become a ski instructor rather than continue in school,so you close out your account.How much money will you receive?

A) $1,171
B) $1,126
C) $1,082
D) $1,163
E) $1,008