Claudine Corporation will deposit $$4,000$ into a money market account at the end of each year for the next five years. How much will accumulate by the

end of the fifth and final payment if the account earns $11\%$ interest?

Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1).$

Multiple Choice

$$20,000$

$$24,911$

$$24,711$

$$20,340$