If a $3,000 deposit is made into a savings account that pays 6 percent interest, compounded monthly, and there are no

If a $3,000 deposit is made into a savings account that pays 6 percent interest, compounded monthly, and there are no other deposits or withdrawals from the account, how much money, rounded to the nearest dollar, is in the account at the end of one year?

A. $2,160
B. $3,180
C. $3,185
D. $5,160
E. $6,037

OA C

Source: Princeton Review

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