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Start the planIf \(\$1000\) was invested at an annual interest rate of \(5.6\%\) compounded annually, which of the following represents the amount the investment was worth after \(3\) years?
A. \(1000(1.056)(3)\)
B. \(1000(3+1.056)\)
C. \(1000(1+3(0.056))\)
D. \(1000(1+(0.056)^3)\)
E. \(1000(1.056)^3\)
Answer: E
Source: GMAT Prep
A. \(1000(1.056)(3)\)
B. \(1000(3+1.056)\)
C. \(1000(1+3(0.056))\)
D. \(1000(1+(0.056)^3)\)
E. \(1000(1.056)^3\)
Answer: E
Source: GMAT Prep
