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P Quiz 3 ChatGPT IING (1249-THEUA-MATH-11103-SEC006-11392) Peyton Henry & | 12/03/24 6:53 PM Question 5 of 8 This quiz: 8 point(s) possible This question: 1 point(s) possible Submit quiz Choose the best answer to the following question. Explain your reasoning. Suppose you deposited $80 per month into a savings plan for 8 years and at the end of that period your balance was $20, 100. What was the amount you earned in interest? Choose the correct answer below. A. It was $12,420. Calculate the amount deposited over 8 years and then subtract it from the balance of $20, 100. O B. It is impossible to compute without knowing the APR. To find the correct answer, multiply each $80 deposit by the APR, and then multiply the product by the number of months in 8 years. C. It is impossible to compute without knowing the APR. To find the correct answer, divide the number of payments by the APR. O D. It was $12,420. Divide the balance of $20, 100 by the number of years, 8. O E. It was $24,840. Calculate the amount deposited over 8 years and then add it to the balance of $20, 100. F. It was $24,840. Multiply the balance of $20, 100 by the number of years, 8. Next