4. Jim Mayer has deposited $7,000 in a guaranteed investment account with a promised rate of 7% compounded annually. He plans to leave it there for 4 full years when he will make a down payment on a car after graduation. How much of a down payment will he be able to make? A) $8,960.00 B) $1,960.00 C) $2,175.57 D) $9,175.57 E) None of the above