Question: Jane is 30 years old and is saving for her retirement. She is planning on making 35 contributions to her retirement account at the end

Jane is 30 years old and is saving for her retirement. She is planning on making 35 contributions to her retirement account at the end of each of the next 35 years. The first contribution will be made after one year (t = 1) and the final contribution will be made 35 years from today (t = 35). The retirement account will earn a return of 10 percent a year. If each contribution she makes is $3,000, how much will be in the retirement account 35 years from now (t = 35)?

a.$894,380

b. $987,118

c.$813,073

d.$978,688

e.$897,380

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