Cody Invests $1,800 Per Year from His Summer Wages at a 4

question 20

Multiple Choice

Cody invests $1,800 per year from his summer wages at a 4% annual interest rate.He plans to take a European vacation at the end of 4 years when he graduates from college.How much will he have available to spend on his vacation? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s) from the tables provided.) }}$

• A)$7,787.52
• B)$7,488.00
• C)$6,912.00
• D)$7,200.00
• E)$7,643.70

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