Joe Sullivan Invests $9,000 at the End of Each Year

Multiple Choice

Joe Sullivan invests $9,000 at the end of each year for 20 years. The rate of interest Joe earns is 8% annually. The final value of Joe's investment at the end of the 20th year on this ordinary annuity is (use the tables in the handbook) :

A) $411,588.00
B) $88,362.90
C) $411,858.00
D) $88,632.90
E) None of these