You just deposited $2,500 in a bank account that pays a 4.0% nominal interest rate,compounded quarterly.If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now,how much will be in the account three years (12 quarters) from now?
A) $15,234.08
B) $16,035.87
C) $16,837.67
D) $17,679.55
E) $18,563.53
Correct Answer:
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