Sam Will Contribute $200 to His RRSP at the End

Multiple Choice

Sam will contribute $200 to his RRSP at the end of each month for 15 years and then raise his monthly contribution to $500 at the end of each month for the subsequent 20 years. If his investments earn 11.7% compounded monthly, what will be the value of the investments after the last $500 contribution is made 35 years from now?

A) $1,186,877
B) $572,207
C) $1,471,930
D) $521,751
E) $285,054