TB MC Qu. B-34 (Algo) Cody invests...

Cody invests $3,700 per year from his summer wages at a 4% annual interest rate. He plans to take a European vacation at the end of 4 years when he graduates from college. How much will he have available to spend on his vacation? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Multiple Choice

• $16,007.68

• $15,392.00

• $14,208.00

• $14,800.00

• $15,712.05