An individual is planning to set-up an education fund for his grandchildren. He plans to invest $13,500 annually at the end of each year. He expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 7%. 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. $232,723.
B. $121,500.
C. $67,168.
D. $161,703.
E. $87,955.
Answer: D
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