Anne Wants to Accumulate $25,000 by December 31, 2019

Multiple Choice

Anne wants to accumulate $25,000 by December 31, 2019. To accumulate that sum, she will make twelve equal quarterly deposits of $1,616.66 at the end of March, June, September, and December, beginning on March 31, 2016, into a fund that earns interest compounded quarterly. What annual rate of interest must the fund provide to yield the desired sum?

A) 4.5%
B) 6.5%
C) 18%
D) 26%