You Want to Save $710 Per Quarter for 15

question 18

Multiple Choice

You want to save $710 per quarter for 15.5 years towards the purchase of a motor home. You think that you can earn 6.56% compounded quarterly for this period of time. If your first deposit is in 3 months, what is the most expensive motor home that you will be able to purchase?

• A) $44 020.00
• B) $75 999.79
• C) $75 399.79
• D) $27 501.82
• E) $79 999.79