Heather Is Planning to Invest a Constant Amount of Money

Multiple Choice

Heather is planning to invest a constant amount of money at the end of every year for 15 years and then allow her money to accumulate interest for 15 more years without any additional deposits. If her investments earn 11% compounded annually and she must have $650,000 in 30 years, how much will she invest at the end of each of the next 15 years?

A) $3,266
B) $2,167
C) $1,889
D) $3,612
E) $3,949