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One year ago, XY Co . deposited $ 1 1 , 0 0 0 in an investment account for the purpose of buying new equipment

One year ago, XY Co. deposited $11,000 in an investment account for the purpose of buying new equipment four years from today. Today, it is adding another $11,500 to this account. The company plans on making a final deposit of $12,000 to the account one year from today. How much cash will be available when the company is ready to buy the equipment assuming an interest rate of 7.0 percent? Group of answer choices $39,609 $49,208 $45,202 $43,208 $44,351

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