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Pat invested x dollars in a fund that paid 8 percent annual interest, compounded annually. Which of the following represents the value, in dollars, of Pat's investment plus interest at the end of 5 years?
A. \(5(0.08x)\)
B. \(5(1.08x)\)
C. \((1+5(0.08))x\)
D. \((1.08)^5 \cdot x\)
E. \((1.08x)^5\)
The OA is D
Source: GMAT Prep
A. \(5(0.08x)\)
B. \(5(1.08x)\)
C. \((1+5(0.08))x\)
D. \((1.08)^5 \cdot x\)
E. \((1.08x)^5\)
The OA is D
Source: GMAT Prep
