The Masterson Family Is Setting Up a Vacation Fund,and They $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$

Multiple Choice

The Masterson family is setting up a vacation fund,and they plan on depositing $1,000 per quarter in an investment that will pay 12% annual interest.What amount will they have available for their vacation at the end of 2 years? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s) from the tables provided.) }}$

A) $8,000.00
B) $8,960.00
C) $8,892.30
D) $8,240.00
E) $8,487.20