Abby Wants to Have $20,000 Available in August 2019 to Make

Multiple Choice

Abby wants to have $20,000 available in August 2019 to make a college tuition payment. To be able to have this amount available, Abby will have to make equal annual deposits in an investment earning 12% annually in August 2015, 2016, 2017, 2018, and 2019 in the amount of

A) $5,548
B) $4,954
C) $4,000
D) $3,148