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Question 61

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Use this information to answer the following question. Use this information to answer the following question. If an accumulation of $16,000 is desired at the end of three years,what amount must be deposited at the end of each of the three years,assuming an APR of 12 percent? A) $4,742.15 B) $53,984.00 C) $11,387.90 D) $22,480.00 If an accumulation of $16,000 is desired at the end of three years,what amount must be deposited at the end of each of the three years,assuming an APR of 12 percent?


A) $4,742.15
B) $53,984.00
C) $11,387.90
D) $22,480.00

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