Suppose a Young Couple Deposits $1,100 at the End of Each

Multiple Choice

Suppose a young couple deposits $1,100 at the end of each quarter in an account that earns an annual rate of 8.8%, compounded quarterly, for a period of 6 years. After the 6 years, they start a family and find they can contribute only $300 per quarter. If they leave the money from the first 6 years in the account and continue to contribute $300 at the end of each quarter for the next years, how much will they have in the account (to help with their child's college expenses) ? Round your answer to the nearest cent. ​

A) $171,621.52
B) $226,229.22
C) $54,607.70
D) $280,836.92
E) $397,850.74