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One Year Ago, the Jenkins Family Fun Center Deposited £3,600

Question 72

Multiple Choice

One year ago, the Jenkins Family Fun Center deposited £3,600 in an investment account for the purpose of buying new equipment four years from today.Today, it is adding another £5,000 to this account.It plans on making a final deposit of £7,500 to the account next year.How much will be available when it is ready to buy the equipment, assuming it earns a 7% rate of return?


A) £18,159.65
B) £19,430.84
C) £19,683.25
D) £20,194.54
E) £20,790.99

Correct Answer:

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