MrHopper Expects to Retire in 30 Years,and He Wishes to Accumulate

Multiple Choice

Mr.Hopper expects to retire in 30 years,and he wishes to accumulate $1,000,000 in his retirement fund by that time.If the interest rate is 12% per year,how much should Mr.Hopper put into his retirement fund at the end of each year in order to achieve this goal?

A) $4,143.66
B) $8,287.32
C) $4,000.00