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Jessie's Dry Cleaner Began Making $2,000 Equal, Annual Deposits in a Fund

Question 108

Multiple Choice

Jessie's Dry Cleaner began making $2,000 equal, annual deposits in a fund starting on January 2, 2016. The fund earns 10% compounded annually, and the last deposit is made on January 2, 2020. How much will be in the fund on January 2, 2021, one year after the final deposit?


A) $15,000
B) $13,431
C) $12,105
D) $10,641

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