Fall07:Jan plans to invest an equal amount of $2,000 in an equity fund every year-end beginning this

Fall07:Jan plans
to invest an equal amount of $2,000 in an equity fund every year-end beginning
this year. The expected annual return on the fund is 15 percent. She plans to
invest for 20 years. How much could she expect to have at the end of 20 years?
A. $237,620
B. $176,424
C. $204,887
D. $178,424
Level of difficulty: Difficult