Question: How much interest is earned in just the fourth year on a $1,000 deposit that earns 5% interest compounded annually? A. $70.00 B. $57.88 C.

How much interest is earned in just the fourth year on a $1,000 deposit that earns 5% interest compounded annually?

A. $70.00

B. $57.88

C. $105.62

D. $140.00

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