We are aiming to have $5,000,000 in 45 years and we plan to get there by making monthly investments that are 1% larger than the previous month’s investment. Our funds

We are aiming to have $5,000,000 in 45 years and we plan to get there by making monthly investments that are 1% larger than the previous month’s investment. Our funds will earn 14.4% compounded monthly. How much should be invested at the end of the first month?
A) $24.29
B) $68.82
C) $103.74
D) $425.16
E) $801.93

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