Glenda Deposits $4, 000 Every Three Months for Five Years $\text { For Values of } n \text { and } i$

question 30

Multiple Choice

Glenda deposits $4, 000 every three months for five years.The first deposit is made on March 31, 2010, and the last deposit is made on December 31, 2014.The fund earns 16%, and interest is compounded quarterly.How much money will Glenda have on December 31, 2014, immediately after her last deposit? Factors for future value of an annuity of $1 are $\text { For Values of } n \text { and } i$
$\begin{array}{ll}n=5 ; i=16 \% & n=20 ; I=4 \% \\6.8771 & 29.7781\end{array}$

• A)$123, 876
• B)$119, 112
• C)$110, 034
• D)$107, 508

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