A Small Business Owner Contributes $2,000 at the End of Each

Multiple Choice

A small business owner contributes $2,000 at the end of each quarter to a retirement account that earns an annual rate of 6.5% compounded quarterly. How long will it be until the account is worth $250,000? Round your answer to the nearest whole number. ​

A) 69 quarters
B) 101 quarters
C) 122 quarters
D) 137 quarters
E) 43 quarters