After taking a personal finance class, William commits to a retirement savings plan by investing $250 per

Fantastic news! We've Found the answer you've been seeking!

Question:

After taking a personal finance class, William commits to a retirement savings plan by investing $250 per month with a 40 year timeline, at which time he will be 65. If William earns 9% on his investment annually, how much will William have when he retires in 40 years?

a) $228,000

b) $1,062,412.12

c) $1,541,360

d) $9,422,826.00