You plan to invest $10,000 into your new savings account the end of the year for the next 10 years. The interest earned in the account is 8% per year.

How much do you expect to have in the account at the end of 10 years?

Hint: work out the PV of the investment (an annuity), and take the future value of this amount. Alternatively, use the formula for the future value of an annuity from the slides.

A. $100,000

B. $108,000

C. $67,101

D. $144,866