Question: 22. A large-capacity water supply system will be required in 4 years. At that time, the system is estimated to cost $40,000. Most nearly,

22. A large-capacity water supply system will be required in 4 years.

22. A large-capacity water supply system will be required in 4 years. At that time, the system is estimated to cost $40,000. Most nearly, what yearly amount must be placed in a savings account to accumulate the necessary purchase price by the end of 4 years, if the annual interest is 12%? (A) $8,000 (B) $8,370 (C) $9,000 (D) $10,000

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