Ten Years Ago, Hailey Invested $1,000 and Locked in a 9

Multiple Choice

Ten years ago, Hailey invested $1,000 and locked in a 9 percent annual rate for 30 years (end 20 years from now) . Aidan can make a 20-year investment today and lock in an 8 percent rate. How much money should he invest now in order to have the same amount of money in 20 years as Hailey?

A) $1,589.03
B) $2,846.56
C) $3,109.48
D) $2,109.73