Investment account for the purpose of buying new equipment

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Reference no: EM13910853

One year ago, the Jenkins Family Fun Center deposited $4,800 in an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6,600 to this account. They plan on making a final deposit of $8,800 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a 9 percent rate of return?

$28,098.09

$26,935.83

$25,415.70

$27,185.42

$26,077.59

Reference no: EM13910853

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