Final Exam Part D$\mathrm{.}1$

To save for $$2,000$ in five years to purchase a new gaming computer, one must save different amounts, depending on the frequency of the payments. Assuming one was contributing to a Tax$-$Free Savings Account $($TFSA$)$ that is paying a $2\mathrm{.}5$ percent rate of return, what would be required payments based on the following scenarios.

Question $27(1$ point$)$

One deposit $($lump sum$)$ paid at the beginning of the five$-$year period, which compounded annually at $2\mathrm{.}5$ percent? $(1$ mark$)$

Question $27$ options:

$$1,767\mathrm{.}71$

$$1,882\mathrm{.}88$

$$1,956\mathrm{.}28$

$$1,309\mathrm{.}64$

$$1,427\mathrm{.}18$