An individual is planning to set-up an education fund for her daughter. She plans to invest $7,800 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?

Multiple Choice

$97,403.28

$50,845.08

$75,816.00

$56,160.00

$140,400.00