Shekhar plans to invest $1,820 in a mutual fund at the end of each of the next six years. If his opportunity cost rate is 8 percent compounded annually, how much will his investment be worth after the last annuity payment is made? Use the equation method to calculate the worth of the investment.
A. $11,125.76
B. $11,857.58
C. $12,580.20
D. $13,351.39
E. $14,871.32
Answer: D
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