You are considering investing in a mutual fund until your first child is born in 8 years. The mutual fund has an annual expense ratio of 2% and a back-end load (redemption) of 2%. You expect the mutual fund to return 9% per year. If you invest $5,000 today, how much will you have when you withdraw your money from the fund?

A. 7,382.11

B. 8,709.87

C. 8,306.47

D. 9,112.01

Please show work (done without excel) if possible. Thank you!