Dan Plans to Fund His Registered Retirement Savings Plan (RRSP)

Multiple Choice

Dan plans to fund his registered retirement savings plan (RRSP) with a contribution of $2,000 at the end of each year for the next 10 years. If Dan can earn 10 percent on his contributions, how much will he have at the end of the tenth year?

A) $12,290
B) $20,000
C) $51,880
D) $31,874