You want to quit your job and return to school for an MBA degree 5 years from now, and you plan to save $5,000 per year, beginning immediately. You will make 5 deposits in an account that pays 4.0% interest. Under these assumptions, how much will you have 5 years from today?
- $22,259.11
- $23,149.48
- $27,081.61
- $28,164.88