Today, Your Grandmother Gave You a Gift of $25,000 to Help

Multiple Choice

Today, your grandmother gave you a gift of $25,000 to help pay for your college education. She told you that this amount was the result of a one-time investment at 8% interest 13 years ago. How much did your grandmother originally invest?

A) $9,192.45
B) $9,225.00
C) $9,350.00
D) $9,419.25
E) $9,504.55