23. Dr. J. wants to buy a Dell computer which will cost $2,800 eight years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 7% annual return. How much should he set aside? Use Appendix C to calculate the answer. (Round your final answer to 2 decimal places.)

Multiple Choice

• $272.90

• $372.90

• $247.90

• $322.90

24. Mr. Nailor invests $13,000 in a money market account at his local bank. He receives annual interest of 6% for 5 years. How much return will his investment earn during this time period? Use Appendix A to calculate the answer.

Multiple Choice

• $9,711

• $17,394

• $15,078

• $4,394