FOR AN EXAM A new retirement account is just opened. You plan on putting into it an average of $ 425 per month for 40 years at an average yearly rate of return of 7.75%. What are the total value V of this account at the end of the 40 years, the total amount A put into the account over 40 years and the total interest I received in the 40 years?
Possible Answers:
A) V = $ 1,369,389.60, A = $ 204,000.00, I = $ 1,165,389.60
B) V = $ 1,389,389.44, A = $ 204,000.00, I = $ 1,185,389.44
C) V = $ 1,399,389.60, A = $ 204,000.00, I = $ 1,195,389.60