If $1000 was invested at an annual interest rate of 5.6% compounded annually, which of the following represents the amount the investment was worth after 3 years? Pick:
A) 1000 (1.056)(3)
B) 1000 (3+1.056)
C) 1000 (1+3(0.056))
D) 1000 (1+(0.056)^3)
E) 1000 (1.056)^3
1000 * 1.056 * 1.056 * 1.056 = 1000 * 1.056^3.   ANSW1000 (1.056)^3R:1000 (1.056)^3
<result>E</result>
If $1000 was invested at an annual interest rate of 5.6% compounded annually, which of the following represents the amount the investment was worth after 3 years?