Dwayne plans to invest $4,700 in a savings account at the beginning of each of the next 12 years. If his opportunity cost rate is 7 percent compounded annually, how much will his investment be worth at the end of 12 years?
A. $87,542.29
B. $89,961.02
C. $91,250.52
D. $93,668.27
E. $84,075.72
Answer: B
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