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You are prepared to make 3 annual deposits over the next 5 years. You have found an investment that promises to pay you 6.75% annually.
You are prepared to make 3 annual deposits over the next 5 years. You have found an investment that promises to pay you 6.75% annually. The first payment will be at the end of year 2 in the amount of $4,500; the second payment will be at the end of year 3 in the amount of $6,655; and the 3rd payment will be made at the end of year 4 in the amount of $3,456. How much will you have accumulated by the end of year 5? a. $12,080.98 Ob. $17,711.57 Oc. $16,747.17 Od. $14,611.00
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