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Mike is scheduled to receive payments of $1,200 each month for the next 2 years, with the first payment beginning today. How much can Mike

Mike is scheduled to receive payments of $1,200 each month for the next 2 years, with the first payment beginning today. How much can Mike expect to have at the end of year 2 if he is able to invest these cash flows at a rate of 8% assuming monthly compounding?

A.
$31,327.29

B.
$31,119.83

C.
$2,496.00

D.
$80,117.71

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