Future Value: Brittany Willis Is Looking to Invest for Retirement

Multiple Choice

Future value: Brittany Willis is looking to invest for retirement, which she hopes will be in 20 years. She is looking to invest $22,500 today in an Australian fixed interest mutual fund that will earn interest at 6.25 percent annually. How much will she have at the end of 20 years? (Round to the nearest dollar.)

A) $68,870
B) $50,625
C) $75,642
D) $71,192