Jackie and Her Husband Started a Savings Account for Their

question 22

Multiple Choice

Jackie and her husband started a savings account for their twin daughters when they were 2 years old.They have been saving $100,000 a year at an interest rate of 10%,and intend on keeping up with their annual contribution to the fund until the girls are 21.What is the future value of their investment?

• A)$864,869.43
• B)$836,492.01
• C)$5,115,909.05
• D)$6,400,249.94
• E)$2,090,000

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