Question: An annuity with 36 monthly payments has a first payment of 600 one month from today. Starting with the second payment, the next 15 monthly

An annuity with 36 monthly payments has a first payment of 600 one month from today. Starting with the second payment, the next 15 monthly payments increase so that each payment is 4% larger than the previous payment. Furthermore, starting with the 17th payment, the next 20 monthly payments decrease so that each payment is 5% smaller than the previous payment. What would be the accumulated value of this annuity immediately after the last payment, if the annual effective interest rate is 6%?

A) 24,197 B) 26,312 C) 28,819 D) 28,892 E) 29,115

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