If John invested $ 1 at 6 percent interest compounded annually, the total value of the investment, in dollars, at the end of 4 years would be	Choose the correct choice from the following options:
A) (1.5)^4
B) 4(1.5)
C) (1.05)^4
D) 1 + (0.05)^4
E) (1.06)^4
In this prompt, the answer choices show that we don't actually have to calculate anything - we just need to 'format' the calculation correctly. We're told that the interest is COMPOUNDED ANNUALLY, so we need the Compound Interest Formula, with a Principal of $1, an R of 5% (which would 'translate' as .05) and a T of 4. We'd have....   (1.06)^4
<result>E</result>
If John invested $ 1 at 6 percent interest compounded annually, the total value of the investment, in dollars, at the end of 4 years would be