TB MC Qu. B-46 (Algo) Elsa is planning...

Elsa is planning to set-up an education fund for her daughter. She plans to invest $6,600 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? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Multiple Choice

• $82,418.16

• $64,152.00

• $47,520.00

• $118,800.00

• $43,022.76