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Sol's Laundry Began Depositing $1, 000 Equal Annual Deposits in a Fund

Question 41

Multiple Choice

Sol's Laundry began depositing $1, 000 equal annual deposits in a fund beginning on January 2, 2010.The fund earns 10% compounded annually, and the last deposit is made on January 2, 2014.How much will be in the fund on January 2, 2015, one year after the final deposit?


A) $7, 500
B) $6, 716
C) $6, 105
D) $5, 641

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