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(TVM) At the end of every year Mr. E deposits $2,000 into a savings account that earns interest at a 6% compounded annual rate. What

(TVM) At the end of every year Mr. E deposits $2,000 into a savings account that earns interest at a 6% compounded annual rate. What will his account balance be after 9 years have passed? Hint: use the Basic Time Value of Money table attached to this quiz or a financial calculator.
  • A. $22,982.63
  • B. $19,080.00
  • C. $30,410.62
  • D. $13,603.38
  • E. $24,361.59

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