Solve the problem.Consider a retirement savings account where the monthly contribution is $175 for the first 20 years, is increased to $225 for the next 5 years, and then is increased once again to $375 for the last 15 years. The APR is always 4.8% compounded monthly. What is the value of the account at the end of 40 years? Round your answer to the nearest cent.
A. $310,143.23
B. $314,907.23
C. $313,040.67
D. $312,009.78
E. $315,938.12
Answer: C
Mathematics
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Mathematics