Question: Please answer this using formulas (not excel). Suppose you open today (year 0) a savings account with $5,000; the account earns an interest of 4%

Please answer this using formulas (not excel).

Suppose you open today (year 0) a savings account with $5,000; the account earns an interest of 4% annually. At year 2 you deposit an additional $10,000 in the savings account, and at year 8 you deposit another $15,000 in the account. What is the balance in the account at the end of year 10?

A. $19,136 B. $25,206 C. $34,910 D. $37,311

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