A business has a savings account that earns a 3% annual interest rate. At the end of 1996, the business had $4,000 in the account. The formula F = p (1+r/100)
t is used to determine the amount in the savings account.
F is the final amount,
p is the initial investment amount,
r is the annual interest rate, and
t is the time in years.
To the nearest dollar, how much did the business initially invest in 1991?
A. $3,450

B. $3,455

C. $4,631

D. $4,637