Solve the problem, using the table.
Jean-Paul invests $8500 in an account that earns 5% interest compounded annually. After 3 years, he plans to use the compound amount to purchase a 5-year CD that earns 7% interest compounded daily. Find the final amount he will have after 8 years.
A. $9839.81
B. $21,901.48
C. $1339.81
D. $13,962.89
Answer: D
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