Multiple Choice
Suppose that Ian Greitzer deposits his $13,000 bonus in an account that earns an annual rate of 8.5%, compounded quarterly, and makes additional deposits of $400 at the end of each quarter for the next 21.5 years, until he retires. How much was deposited? Round your answer to the nearest cent.
A) $458,674.18
B) $22,243.99
C) $175,312.58
D) $85,960,962.98
E) $19,932.99
Correct Answer:
Verified
Correct Answer:
Verified
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