Ray plans to save $100 a month, starting today, for 7 years. Bailey plans to save $100 a month for 7 years, starting one month from today. Both Ray and Bailey expect to earn a return of 3. 0 percent on their savings. At the end of the 7 years, Ray will have approximately _____ more than Bailey.
a) None of the answers is correct
b) $9,357. 53
c) $22. 12
d) $163. 35