Jack and Jill are saving for a house. How much will they have saved if they make 8 deposits of $5,000 each (one at the end of each year) into an account that earns 4% interest compounded annually?
A)$51,169.86
B)$63,732.74
C)$46,071.15
D)$49,506.11

Question

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The Answer of Jack and Jill are saving for a house. How much will they have saved if they make 8 deposits of $5,000 each (one at the end of each year) into an account that earns 4% interest compounded annually?
A)$51,169.86
B)$63,732.74
C)$46,071.15
D)$49,506.11

Jack and Jill Are Saving for a House