Suppose that Craig Nordstrom deposits his $11,500 bonus in an account that earns an annual rate of 7.5%, compounded quarterly, and makes additional deposits of $800 at the end of each quarter for the next 24.5 years, until he retires. How much is in the account after the last deposit is made? Round your answer to the nearest cent.
?
A. $362,815.63
B. $220,793.91
C. $71,010.86
D. $149,783.06
E. $291,804.77
Answer: E
Mathematics
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