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 $1,761.55 at the end of March,June,September,and December for the next three years,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) 3%
B) 7%
C) 12%
D) 14%