Knowledge Check 01

Periods1%2%3%4%5%11.00001.00001.00001.00001.000022.01002.02002.03002.04002.050033.03013.06043.09093.12163.152544.06044.12164.18364.24654.310155.10105.20405.30915.41635.5256

Use the partial future value of an annuity table to determine how much money will you have saved towards the purchase of a new car if you were to deposit $8,000 in a savings account at the end of each year for 4 years, assuming the savings account paid 5 percent interest.

• $32,000.00
• $43,330.40
• $34,480.80
• $8,000.00