Question: an explanation would be awesome chapter 7 MULTIPLE-CHOICE PROBLEMS A sample of multiple choice problems is provided below. Additional multiple choice problems are available at

an explanation would be awesome

chapter 7 MULTIPLE-CHOICE PROBLEMS A sample of multiple choice problems is provided below. Additional multiple choice problems are available at money-education.com by accessing the Student Practice Portal 1 Steve and his wife Christine recently opened an investment account with the intention of saving enough to purchase a house. Their goal is to have $45,000 for a down payment in 5 years. Their account will guarantee them a return of 8% compounded annually. How much do they need to put into the account right now to reach their goal? a $30,626.24 b. $39,546.09. c. $46,778.96. d$51,214.75

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