Using the Time Value of Money charts provided, answer the following question.
(Note to Instructors: Provide the appropriate tables to students from Personal Finance, Sixth Edition, Appendix C: Financial Tables.)
Judy would like to have $200,000 saved in her retirement account in 20 years. Assuming an interest rate of 10%, how much should she contribute each year?
◦ $3,491.92
◦ $2,000.00
◦ $2,576.11
◦ $4,376.77