Multiple Choice
You and your brother are planning a large anniversary party 3 years from today for your grandparents' 50th wedding anniversary. You have estimated that you will need $2,500 for this party. You can earn 3.5 percent compounded annually on your savings. How much would you and your brother have to deposit today in one lump sum to pay for the entire party?
A) $2,199.74
B) $2,254.86
C) $2,308.16
D) $2,334.90
E) $2,368.81
Correct Answer:
Verified
Correct Answer:
Verified
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