You Want to Go to Europe 5 Years from Now,and

Multiple Choice

You want to go to Europe 5 years from now,and you can save $3,100 per year,beginning 1 year from today.You plan to deposit the funds in a mutual fund that you expect to return 8.5% per year.Under these conditions,how much will you have just after you make the fifth deposit,5 years from now?

A) $18,368.66
B) $19,287.09
C) $20,251.44
D) $21,264.02