The James Co

Multiple Choice

The James Co. plans on saving money to buy some new equipment. The company is opening an account today with a deposit of $15,000 and expects to earn 4% interest. After 3 years, the firm wants to add an additional $50,000 to the account. If the account continues to earn 4%, how much money will the James Co. have in their account five years from now?

A) $66,872.96
B) $68,249.79
C) $70,952.96
D) $72,329.79
E) $81,361.18