ANSWER :
D. $1044.28
EXPLANATION :
From the problem, the present value is P = $700, the interest rate is r = 5% or 0.05, and the time is t = 8 years
Using the given formula :
[tex]A(t)=Pe^{rt}[/tex]
Then :
[tex]\begin{gathered} A(t)=700e^{0.05(8)} \\ A(t)=1044.28 \end{gathered}[/tex]
