Currently You Are 25 Years Old and Planning for Retirement

Multiple Choice

Currently you are 25 years old and planning for retirement in 30 years. You plan to buy into a mutual fund at $100 per month and expect to obtain a return of 1.25% per month. How much will the mutual fund be worth in 30 years?

A) $692.328
B) $561,453
C) $893,001
D) $1,041,009