You Just Deposited $8,000 in a Bank Account That Pays

Multiple Choice

You just deposited $8,000 in a bank account that pays a 4.0% nominal interest rate,compounded quarterly.If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now,how much will be in the account three years (12 quarters) from now?

A) $22,233.41
B) $23,789.75
C) $19,565.40
D) $26,457.76
E) $20,232.41