You Want to Have $35,000 in Cash to Buy a Car

Multiple Choice

You want to have $35,000 in cash to buy a car 3 years from today.You expect to earn 3.6 percent, compounded annually, on your savings.How much do you need to deposit today if this is the only money you save for this purpose?

A) $32,618.92
B) $34,511.68
C) $33,726.04
D) $31,476.67
E) $30,156.19