An individual is planning to set-up an education fund for his grandchildren. He plans to invest $11,500 annually at the end of each year. He expects to withdraw money from the fund at the end of 10 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 10 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Multiple Choice

• $77,166.

• $166,596.

• $115,000.

• $237,616.

• $56,379.