Use this information to answer the following question. If an accumulation of $16,000 is desired at the end of three years,what amount must be deposited at the end of each of the three years,assuming an APR of 12 percent?
A)$4,742.15
B)$53,984.00
C)$11,387.90
D)$22,480.00

Question

Use this information to answer the following question.  If an accumulation of $16,000 is desired at the end of three years,what amount must be deposited at the end of each of the three years,assuming an APR of 12 percent?
A)$4,742.15 
B)$53,984.00 
C)$11,387.90 
D)$22,480.00

Quizplus · Accepted Answer

The Answer of Use this information to answer the following question.  If an accumulation of $16,000 is desired at the end of three years,what amount must be deposited at the end of each of the three years,assuming an APR of 12 percent?
A)$4,742.15 
B)$53,984.00 
C)$11,387.90 
D)$22,480.00

Use This Information to Answer the Following Question