You Wish to Save $500,000 in the Next 25 Years

Multiple Choice

You wish to save $500,000 in the next 25 years.You notice that a corporate bond fund earns about 11 percent per year and that is where you put your savings.How much must you save each year to obtain your goal?

A) $20,000.00
B) $ 3,749.98
C) $ 4,370.13
D) $ 2,000.00