Georgia Deposits $4,000 Every Three Months for Five Years

Multiple Choice

Georgia deposits $4,000 every three months for five years. The first deposit is made on March 31, 2016, and the last deposit is made on December 31, 2020. The fund earns 16% and interest is compounded quarterly. How much money will Georgia have on December 31, 2020, immediately after her last deposit? Factors for future value of an annuity of $1 are

A) $123,876
B) $119,112
C) $110,034
D) $107,508