The Managers of a Company's Pension Fund Invest the Monthly

Multiple Choice

The managers of a company's pension fund invest the monthly employee contributions of $105,000 into a government fund paying 7.6%, compounded monthly.To what value (rounded to the nearest
Thousand) will the fund grow in 20 years?

A) $58,875,000
B) $58,869,000
C) $58,861,000
D) $58,853,000
E) $58,853,800