Alpo, Inc Invested $500,000 to Help Fund a Company Expansion Project

Multiple Choice

Alpo, Inc. invested $500,000 to help fund a company expansion project scheduled for eight years from now. How much additional money will they have eight years from now if they can earn 9% rather than 7% on this money?

A) $58,829.69
B) $86,991.91
C) $118,009.42
D) $126,745.19
E) $137,188.23