You just deposited $2,500 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. $15,234.08
B. $16,035.88
C. $16,837.67
D. $17,679.55
E. $18,563.53
Answer: B
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