If $650 is deposited into a savings account at an annual interest rate of 5% that compounds monthly, what is the value of the investment after 7 years?	Choose the correct choice from the following answers:  A) $750.00  B) $823.50  C) $973.25  D) $921.75  E) $110.00
Using CI Formula:   A=P(1+r/n)^n*t   A=650(1+5/7)^5*7   A=921.75   Option: $921.75
<result>D</result>
If $650 is deposited into a savings account at an annual interest rate of 5% that compounds monthly, what is the value of the investment after 7 years?