Question: You are saving for a downpayment on a house that you plan to buy in 5 years. You plan to make $5,000 annual payments with

You are saving for a downpayment on a house that you

You are saving for a downpayment on a house that you plan to buy in 5 years. You plan to make $5,000 annual payments with the first payment today and the last payment exactly 5 years from now (6 payments in total). The interest rate is 10%. How much will you have saved for downpayment? A. $30,526 4. B. $38.578 C. $36,259 D. $30,000 E. none of the above

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