Question
If XYZ invested $5,400 today in an account that is expected to earn 3.6 percent per year, and she expects to make another investment in
If XYZ invested $5,400 today in an account that is expected to earn 3.6 percent per year, and she expects to make another investment in the same account in 3 years from today, then how much money does XYZ expect to invest in 3 years if she expects to have $15,000 in her account in 4 years from today?
a. | An amount less than $8,100 | |
b. | An amount equal to or greater than $8,100 but less than $8,500 | |
c. | An amount equal to or greater than $8,500 but less than $8,800 | |
d. | An amount equal to or greater than $8,800 but less than $9,200 | |
e. | An amount equal to or greater than $9,200 |
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