Jackson deposits $4,800 at the end of each year into a saving account earning interest at the rate of 6% per year, compounded annually. How much will Jackson have on deposit in his savings account at the end of 6 years, assuming that he makes no withdrawals during that period?

A) $34,463.31

B) $35,490.42

C) $33,557.51

D) $33,481.53 Correct Answer

E) $34,301.26