You Plan to Save $2,400 a Year and Earn an Average

Multiple Choice

You plan to save $2,400 a year and earn an average rate of interest of 5.6 percent.How much more will your savings be worth at the end of 40 years if you save at the beginning of each year rather than at the end of each year?

A) $17,822.73
B) $18,821.10
C) $18,911.21
D) $19,103.04
E) $18,115.31