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Jacquie Plans to Deposit $3,500 into Her Savings Account for Each

Question 12

Multiple Choice

Jacquie plans to deposit $3,500 into her savings account for each of the next 5 years,and then $2,000 per year for 5 years after that (all at year end) .She anticipates interest rates to be 6% for the next 3 years and then 9% thereafter.How much will she have in the account after the 10 years?


A) $43,593.56
B) $30,427.02
C) $34,367.06
D) $35,164.86
E) $42,954.28

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