You Are Currently 25 and Would Like to Retire at Age

Multiple Choice

You are currently 25 and would like to retire at age 45. You plan to save by making equal investments of $10,000 at the end of each year for the next 20 years. If you are able to earn 8% per year on your investments, how much will you have at the end of the 20 years? Please refer to the table below:
Future Value of an Annuity of $1
$$\begin{array} { | r | r | l | } \hline \text { Periods } & 8 \% & \quad\quad\quad\\\hline & & \\\hline 12 & 18.98 & \\\hline 13 & 21.5 & \\\hline 14 & 24.21 & \\\hline 15 & 27.15 & \\\hline 16 & 30.32 & \\\hline 17 & 33.75 & \\\hline 18 & 37.45 & \\\hline 19 & 41.45 & \\\hline 20 & 45.76 & \\\hline\end{array}$$

A) $216,000
B) $200,000
C) $457,600
D) $576,900