Your bank offers a savings account that pays 3.5% interest, compounded annually. If you invest $1,000 in the account, then how much will it be worth at the end of 25 years?
A. $2,245.08
B. $2,363.24
C. $2,481.41
D. $2,605.48
E. $2,735.75
Answer: B
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Indicate whether the statement is true or false