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Mountain Eye Care is planning on opening a new location in 4 years. Opening the new location will involve building and outfitting the clinic site.

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Mountain Eye Care is planning on opening a new location in 4 years. Opening the new location will involve building and outfitting the clinic site. They know that they will have to pay their contractors: $100,000 one year from now $300,000 2 years from now $400,000 3 years from now $200,000 4 years from now How much do the owners have to put in a money market account that pays 4% compounded semi-annually today so that they will have the money set aside to pay their contractors? a. $1,113,580 b. $900,090 c. $1,112,420 d. $899,160 e. $1,000,000

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