You Deposit in a Fund 10 Annual Payments of $2,500

Multiple Choice

You deposit in a fund 10 annual payments of $2,500 each beginning January 1, 2016, with the last deposit being made on January 1, 2025. How much will be in the fund on December 31, 2025, one year after the final payment, if the fund earns interest at 4% compounded annually?

A) $21,088
B) $28,957
C) $30,015
D) $31,216