Answer:
The correct answer is 777.169.56.
Step-by-step explanation:
According to the scenario, the given data are as follows:
Payment per year (PMT) = $3,000
Time (N) = 40 years
Rate of interest (R)= 8%
So, the future value of the following can be calculated by using the following formula:
Future value = PMT ×

Now, put the value of the following in the formula. then,
= 3,000 ×

= 3,000 × 259.0565
= 777,169.56
Hence, the value in the account after 40 years will be 777,169.56.