One year ago,Deltona Motor Parts deposited $16,500 in an investment account for the purpose of buying new equipment three years from today.Today,it is adding another $12,000 to this account.The company plans on making a final deposit of $20,000 to the account one year from today.How much will be available when it is ready to buy the equipment,assuming the account pays 5.5 interest?
A) $53,408
B) $53,919
C) $56,211
D) $56,792
E) $58,021
Correct Answer:
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