If $600 is deposited into a savings account at an annual interest rate of 4% that compounds monthly, what is the value of the investment after 7 years?
Choices:
A) $750.00  B) $823.50  C) $973.25  D) $100.25  E) $793.49
Using CI Formula:   A=P(1+r/n)^n*t   A=600(1+4/7)^4*7   A=793.49   Option: $793.49
<result>E</result>
If $600 is deposited into a savings account at an annual interest rate of 4% that compounds monthly, what is the value of the investment after 7 years?