Harry received a scholarship of $2,000. He plans to invest this money for 5 years at 8%, compounded annually. If he accomplishes this, Harry will have an ending balance of: (Use time value tables or a financial calculator. Select the closest answer.)
A. $2,160.
B. $2,520.
C. $2,608.
D. $2,938.
E. $3,162.
Answer: D
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