MrHopper Expects to Retire in 25 Years,and He Wishes to Accumulate

Multiple Choice

Mr.Hopper expects to retire in 25 years,and he wishes to accumulate $750,000 in his retirement fund by that time.If the interest rate is 10% per year,how much should Mr.Hopper put into his retirement fund each year in order to achieve this goal? (Assume that he makes payments at the end of each year.)

A) $4,559.44
B) $2,500
C) $7,626.05