Your Daughter Has Been Saving $500 a Year for Each

Multiple Choice

Your daughter has been saving $500 a year for each of the last 10 years for her "sweet sixteen" party.How much is now in her party account (at the end of the tenth year) if she earned an annual rate of return of 6%?

A) $6,590.40
B) $7,680.04
C) $5,300.00
D) $8,714.84