Question: Fred plans on saving $6,500 per year and expects to earn an annual rate of 4.5 percent. How much will he have in his account

Fred plans on saving $6,500 per year and expects to earn an annual rate of 4.5 percent. How much will he have in his account at the end of 36 years? Assume he deposits the money at the beginning of each year.

A. $406,429.33 B. $483,836.92 C. $560,065.78 D. $585,268.74 E. $610,396.16

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