An Individual Is Planning to Set-Up an Education Fund for His

Multiple Choice

An individual is planning to set-up an education fund for his grandchildren.He plans to invest $10,000 annually at the end of each year.He expects to withdraw money from the fund at the end of 10 years and expects to earn an annual return of 8%.What will be the total value of the fund at the end of 10 years? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s) from the tables provided.) }}$

A) $46,320
B) $67,107
C) $100,000
D) $144,866
E) $215,890