The Masterson Family Is Setting Up a Vacation Fund, and They

question 54

Multiple Choice

The Masterson family is setting up a vacation fund, and they plan on depositing $1,000 per quarter in an investment that will pay 12% annual interest. What amount will they have available for their vacation at the end of 2 years? (^{PV of $1}, ^{FV of $1}, ^{PVA of $1}, and ^{FVA of $1}) (Use appropriate factor(s) from the tables provided.)

• A) $8,960.00
• B) $8,000.00
• C) $8,240.00
• D) $8,892.30
• E) $8,487.20

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