Marshall, Inc

Multiple Choice

Marshall, Inc. wishes to accumulate $500,000 to be used to pay off a loan at the end of 10 years. How much will Marshall deposit each year for 10 years, beginning at the end of the first year, to accumulate the desired amount if the investment earns an annual rate of 12%? (Select the closest amount)

A) $22,793
B) $28,492
C) $16,667
D) $13,216