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Your goal is to have $15,000 in your savings account 3 years from now so...

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Accounting

Your goal is to have $15,000 in your savings account 3 years from now so that you can purchase a home. Which one of the following statements is correct given this situation? Assume that you only make one initial deposit into the savings account.

A.

The higher the interest rate on your savings, the larger the amount that you need to deposit today to fund this account.
B.

If you deposit $7,500 today and earn 7 percent interest, you will reach your goal in 3 years.
C.

If you have $10,000 to deposit today, you will need to earn at least 15 percent interest to reach your goal.
D.

The less money you have to deposit today into the account, the greater the interest rate must be if you are to reach your goal of $15,000.

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