On the day you are born your mom puts $$100$ into an investment account for you. If it earns $8\%$ interest how much money will you have when you turn $65$ and decide to retire?

Select one:

a$.$ $$399\mathrm{.}60$

b$.$ A lot of money

c$.$ $$14,877\mathrm{.}98$

d$.$ $$184,724\mathrm{.}81$

Your answer is incorrect.

$N=65$

$\frac{\text{I}}{Y}=8$

$PV=-100(negative$ because $itis$ a deposit$)$

$PMT=0$

$FV=$