Your mother deposited $50,000 into a savings account for your retirement. The account will compound interest at 5percent annually. You will not be able to withdraw any money from the account until you retire in 40 years. Which of the following statements is correct?

A) The total amount of interest you will earn will equal $50,000 .06 40.

B) The interest you earn 6 years from now will equal the interest you earn 10 years from now.

C) The present value of this investment is equal to $50,000.

D) The interest amount you earn will double in value every year.

E) The future value of this amount is equal to $50,000 (1 + 40)^.06.