Solve the Problem $2 \%$ A Year Compounded Annually, What Will It Cost in 7

Multiple Choice

Solve the problem. Round to the nearest cent.
-If inflation is $2 \%$ a year compounded annually, what will it cost in 7 years to buy a house currently valued at $\$ 63,000$ ?

A) $\$ 70,948.23$
B) $\$ 67,544.53$
C) $\$ 73,814.54$
D) $\$ 72,367.20$