Darlene Wishes to Accumulate $50,000 by the End of 10

question 9

Multiple Choice

Darlene wishes to accumulate $50,000 by the end of 10 years by making equal annual end-of-yeardeposits over the next 10 years. If Darlene can earn 5 percent on her investments, how much mustshe deposit at the end of each year?

• A) $3,975
• B) $4,513
• C) $6,475
• D) $5,000