Raj comes across a 7-year investment option that provides a 10% interest rate with a monthly deposit of $500.

Which type of TVM calculation will help Raj determine the amount of money he will have after 7 years?

a)Calculating the future value of $50,000 invested today

b)Calculating the future value for an annuity of $500

c)Calculating the present value for the expected earnings of $50,000

d)Calculating the present value for an annuity of $500