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

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 Roshy Mountains to become a ski instructor rather than continue in school,so you close out your account.How much money will you receive? (Round to the nearest whole dollar)

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