Elaine is going to invest $5,000 this year, and plans on increasing her investments by 7% each year. If she invests for 20 consecutive years and earns 7% per year, the amount she deposits on the 20th year is closest to …
a) $ 95,000
b) $ 18,083
c) $ 19,349
d) $ 16,900
e) $ 5,000
f) $100,000
g) $119,348