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How much money will you have in your account on Sept

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Question - Today is Sept. 1, 2009. Starting today you plan to invest $1000 every year, first deposit today and last deposit on Sept. 1, 2025. After that, you plan to leave the money in the same account until Sept. 1, 2030. However, the interest rate is 8% compounded quarterly until your last deposit and only 7% compounded annually after that. How much money will you have in your account on Sept. 1, 2030?

a. $34,504.14

b. $35,504.14

c. $48,393.84

d. $49,005.74

e. $50,814.48

Reference no: EM132847105

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