You Plan on Saving $5,200 This Year,nothing Next Year,and $7,500

question 128

Multiple Choice

You plan on saving $5,200 this year,nothing next year,and $7,500 the following year.You will deposit these amounts into your investment account at the end of each year.What will your investment account be worth at the end of year three if you can earn 8.5 percent on your funds?

• A)$13,528.12
• B)$13,621.57
• C)$13,907.11
• D)$14,526.50
• E)$14,779.40

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Definitions:

New Calendar

The term "New Calendar" commonly refers to the Gregorian calendar, introduced by Pope Gregory XIII in 1582 to correct inaccuracies in the Julian calendar and better align with the solar year.

Jacobins

A radical political movement that was the most famous political club during the French Revolution, advocating for republicanism, freedom, and equality.

Old Regime

The political and social system of France before the French Revolution of 1789, characterized by absolutism, feudalism, and the privileges of the nobility and clergy.

Marquis de Condorcet

A French philosopher, mathematician, and early political scientist who advocated for a liberal economy, free and equal public instruction, and the abolition of slavery.