If a Merchant Deposits $2,000 Annually at the End of Each

Multiple Choice

If a merchant deposits $2,000 annually at the end of each tax year in an IRA account paying interest at the rate of 4%/year compounded annually, how much will she have in her account at the end of 20 years? Round your answer to two decimal places. ​

A) $4,382.25
B) $59,556.16
C) $3,600.00
D) $25,901.32