If $2,500 is deposited in a savings account at the end of each year and...
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If $2,500 is deposited in a savings account at the end of each year and the account pays interest of 5% compounded annually, what will be the balance of the account at the end of 10 years? (Round to the nearest dollar) 5%, 10 years annually Factor Present value of $1 0.614 Future value of $1 1.629 Present value of an annuity 7.722 Future value of an annuity 12.578 a. $4,073 b. $26,250 c. $31,445 d. $37,500 e. None of the options listed
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