Question
Stacy requires $3,000 in three years to make a down payment on a new car. She will receive 8% compounded annually for the three years. How much must she invest today to have the $3,000 in three years?
(a) $ 2,381.49 (b) $ 2,419.35 (c) $ 2,000.00 (d) $ 2,500.00 (e) $ 2,250.00
(a) $ 2,381.49 (b) $ 2,419.35 (c) $ 2,000.00 (d) $ 2,500.00 (e) $ 2,250.00