Solve the problem. Round to the nearest cent unless otherwise noted.You would like to have $44,000 in 5 years for the down payment on a new house following college graduation by making deposits at the end of every three months in an annuity that pays 4.25% compounded quarterly. How much should you deposit at the end of every three months? How much of the $44,000 comes from deposits and how much comes from interest? Round all answers to the nearest dollar.
A. $1986; $39,720 from deposits and $4280 from interest
B. $2366; $23,660 from deposits and $20,340 from interest
C. $1478; $29,560 from deposits and $14,440 from interest
D. $2197; $43,940 from deposits and $60 from interest
Answer: A
Mathematics
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= x
A. {7}
B. 
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.
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B. 
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