One year ago, the Jenkins Family Fun Center deposited $5,000…
One year ago, the Jenkins Family Fun Center deposited $5,000 into an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6,800 to this account. They plan on making a final deposit of $9,000 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a rate of return of 8 percent?