Morgan Has Decided to Make Contributions of $250 to Her

Multiple Choice

Morgan has decided to make contributions of $250 to her Retirement Savings Plan (RSP) at the end of each month for 30 years. She anticipates that her RSP will earn 12.75% compounded monthly. She is 20 years old now and therefore he will be only 50 when this plan is completed. How much money will be in her RSP when she is 50 years of age?

A) $284,671
B) $641,893
C) $962,357
D) $1,033,348
E) $2,763,932