Five Years Ago, Jane Invested $5,000 and Locked in an 8

Multiple Choice

Five years ago, Jane invested $5,000 and locked in an 8 percent annual interest rate for 25 years (end 20 years from now) . James can make a 20-year investment today and lock in a 10 percent interest rate. How much money should he invest now in order to have the same amount of money in 20 years as Jane?

A) $3,160.43
B) $3,464.11
C) $5,089.91
D) $7,346.64