Trisha Long wants to buy a boat in five years. She estimates the boat will cost $15,000 at that time. What must Trisha deposit today in an account earning 5% annually to have enough to buy the boat in five years?
A)$12,328.50
B)$11,527.50
C)$11,752.50
D)$11,077.50
E)None of these

Question

Quizplus · Accepted Answer

The Answer of Trisha Long wants to buy a boat in five years. She estimates the boat will cost $15,000 at that time. What must Trisha deposit today in an account earning 5% annually to have enough to buy the boat in five years?
A)$12,328.50
B)$11,527.50
C)$11,752.50
D)$11,077.50
E)None of these

Trisha Long Wants to Buy a Boat in Five Years