You plan to save $5,900 per year for the next 12 years. After the last deposit, you will keep the money in the account for 4 more years. The account will earn an interest rate of 6.2 percent. How much will there be in the account 16 years from today? a. $153,983.95 b. $128.0970:2 c. $25,886.92 d. $263,653.32 e. $100,702.67

Explanation:

A constant annual investment of $5,900 for certain period is an annuity.

The equation for the future value (FV) of an annuity starting today, over t years, at an interest rate r is:

Substitute:

The $106,946.23 will be kept 4 more years at the same interest rate. The future value is calculated using the formula:

Substitute

d. to get countries or companies to stop doing something objectionable.

answer; be sure that the information on file is correct;