P$6-24$ Calculating Annuity Future Values $[$LO$1]$

You are planning to make monthly deposits of $$80$ into a retirement account that pays $12$

percent interest compounded monthly. If your first deposit will be made one month from

now, how large will your retirement account be in $14$ years?

Multiple Choice

$$32,839\mathrm{.}37$

$$34,567\mathrm{.}76$

$$36,296\mathrm{.}15$

$$414,813\mathrm{.}10$