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How much will she have saved for a down payment

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Question - Jenna would like to purchase a new car in three years. If she saves? $1,700 per year in an account that pays 8% annual interest for the next 3 years, how much will she have saved for a down payment?

Values for i = 8%, n = 3

Present value of an ordinary annuity of $1 2.577

Present value of $1: .772

Future value of an ordinary annuity o? $1 3.246

Future value of $1: 1.260

A. $6,081

B. $4,381

C. $6,412

D. $5,518

Reference no: EM133033485

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