Future Value of Ongoing Savings. Abigail Lewis deposits 2,500 a year into a savings account paying 4 percent per year, compounded annually. Her goal is to accumulate an emergency fund of 20,000 in 8...

Future Value of Ongoing Savings. Abigail Lewis deposits
2,500 a year into a savings


account paying 4 percent per year, compounded annually. Her goal is to accumulate an


emergency fund of
20,000 in 8 years. Is Abigail likely to achieve her financial goal?