Jeannette plans to contribute $4,000 per year for the first 5 years; $5,000 per year for years 6 - 10; $6,000 per year for years 11 - 15; and $7,000 per year for years 16 - 20. If the rate of return on her investment is 3.5% compounded annually, determine the future value at the end of year 20.
A) $147,052.68
B) $147,922.47
C) $148,617.33
D) $149,508.27
E) $150,207.67

Question

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The Answer of Jeannette plans to contribute $4,000 per year for the first 5 years; $5,000 per year for years 6 - 10; $6,000 per year for years 11 - 15; and $7,000 per year for years 16 - 20. If the rate of return on her investment is 3.5% compounded annually, determine the future value at the end of year 20.
A) $147,052.68
B) $147,922.47
C) $148,617.33
D) $149,508.27
E) $150,207.67

Jeannette Plans to Contribute $4,000 Per Year for the First