You Want to Go to Europe 5 Years from Now,and

Multiple Choice

You want to go to Europe 5 years from now,and you can save $3,800 per year,beginning one year from today.You plan to deposit the funds in a mutual fund that you think will return 8.5% per year.Under these conditions,how much would you have just after you make the 5th deposit,5 years from now?

A) $19,364.12
B) $27,244.86
C) $19,814.45
D) $22,741.58
E) $22,516.42