You Are Planning Your Retirement and You Come to the Conclusion

Multiple Choice

You are planning your retirement and you come to the conclusion that you need to have saved $1,250,000 in 30 years.You can invest into an retirement account that guarantees you a 5% annual return.How much do you have to put into your account at the end of each year to reach your retirement goal?

A) $81,314.29
B) $18,814.30
C) $23,346.59
D) $12,382.37