Use This Information to Answer the Following Question If an Accumulation of $6,000 Is Desired at the End

question 45

Multiple Choice

Use this information to answer the following question. $$\begin{array} { | c | c | c | } \hline \text { Periods } & \text { Future Value af } 11 \text { at } 12 \text { Percent } & \text { Future Value af Ordinary Annuity of } \\& & \text { \$1 at } 12 \text { Percent } \\\hline 1 & 1.120 & 1.000 \\\hline 2 & 1.254 & 2.120 \\\hline 3 & 1.405 & 3.374 \\\hline\end{array}$$ If an accumulation of $6,000 is desired at the end of three years,what amount must be deposited at the end of each of the three years?

• A) $1,778.30
• B) $20,244.00
• C) $4,270.46
• D) $8,430.00