Question: 5 7 . Today is Jan. 1 , 2 0 1 9 . Starting today you plan to invest $ 3 0 0 0 every

57. Today is Jan. 1,2019. Starting today you plan to invest $3000 every year, first deposit today and last
deposit on Jan. 1,2040. After that, you plan to leave the money in the same account until Jan. 1,2060.
However, the interest rate is 8% compounded quarterly until your last deposit and only 6% compounded
annually after that. How much money will you have in your account on Jan. 1,2060?(Note: This question is
worth more)
a. $540,400.25
b. $550,021.66
c. $705,057.23
d. $724,134.52
e. $485,139.42

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