#8

Question 8 Paul is a 43-year-old construction worker and decides to start a retirement plan. He figures his income for the next 10 years will be sufficient to deposit $1,000 at the end of each quarter into his retirement plan earning 7.8% compounded quarterly. After 10 years, he will let the money sit for another 13 years, without making additional deposits, until he is 66 years old. What amount will Paul have when he turns 66? $353,162.56 $163,111.83 $251,821.18 $43,120