Use the Following 8% Interest Factors for Questions 102 Through

Multiple Choice

Use the following 8% interest factors for questions 102 through 105.
-What will be the balance on September 1, 2020 in a fund which is accumulated by making $20,000 annual deposits each September 1 beginning in 2013, with the last deposit being made on September 1, 2020? The fund pays interest at 8% compounded annually.

A) $212,733
B) $178,458
C) $151,200
D) $114,932