You and your sister are planning a large anniversary party 3 years from today for your parents' 50th wedding anniversary.You have estimated that you will need $4,500 for this party.You can earn 2.5 percent compounded annually on your savings.How much would you and your sister have to deposit today in one lump sum to pay for the entire party?
A) $4,076.55
B) $4,178.70
C) $4,308.16
D) $4,334.90
E) $4,368.81
Correct Answer:
Verified
Q50: You have $1,500 today in your savings
Q52: You have $1,100 today and want to
Q53: You're trying to save to buy a
Q54: Planters Bank pays 5 percent simple interest
Q56: How long will it take to double
Q58: You have just made your first $5,000
Q59: Assume the total cost of a college
Q60: Suppose that in 2010,a $10 silver certificate
Q61: You have $5,000 you want to invest
Q62: You want to have $2.5 million saved
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents