An individual is planning to set-up an education fund for her daughter. She plans to invest $7200 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%. What will be the
total value of the fund at the end of 9 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
A. $89,910.72
B. $46,933.92
C. $69,984.00
D. $129,600.00
E. $51,840.00
Answer: A
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