Sally Saves $500 Per Month in Her Retirement Plan

Sally saves $500 per month in her retirement plan. She plans on making monthly contributions for 35 years. If her account earns a 12 percent annual interest rate, how much will she have at the end of 35 years and what percent of the total are her out-of-pocket contributions?

A) $1,113,879.14; 43.72 percent
B) $2,452,905.33; 12.07 percent
C) $3,215,479.74; 6.53 percent
D) $3,691,003.27; 8.28 percent