Dwayne Plans to Invest $4,700 in a Savings Account at the Beginning

Multiple Choice

Dwayne plans to invest $4,700 in a savings account at the beginning of each of the next 12 years. If his opportunity cost rate is 7 percent compounded annually, how much will his investment be worth at the end of 12 years?

A) $87,542.29
B) $89,961.02
C) $91,250.52
D) $93,668.27
E) $84,075.72