You can invest a windfall of $$40,000$ today at $4\%$ compounded annually. You don$$t believe you can make another investment one year from now, but you believe that you can save enough that two years from now, you can deposit another $$10,000$ in the same investment, which will still be earning $4\%$ compounded annually. How much will you have accumulated in this investment three years from now?

General instructions: Approximations and minor differences because of rounding are acceptable. Ignore the effect of taxes. Please assume that all percentages are annual rates and compounding occurs annually unless otherwise indicated.

Question $8$Answer

a$.$

$$57,123\mathrm{.}33$

b$.$

$$50,400\mathrm{.}00$

c$.$

$$54,875\mathrm{.}32$

d$.$

$$55,394\mathrm{.}56$