Suppose That You Want to Create a "Retirement Party Fund

Multiple Choice

Suppose that you want to create a "retirement party fund" for yourself and place $50 in a bank account for each of the next 20 years.If that account earns an annual rate of return of 7%,how much will be in your retirement party fund at the end of the twentieth year?

A) $1,529.70
B) $2,679.22
C) $1,032.57
D) $2,049.77