Starting 1/1/15 and continuing each January 1 for four additional years, Case Corporation will deposit $10,000 in an account that will initially earn interest at a rate of 5%, credited each year on December 31. After the last deposit is made on 1/1/19, the account will earn 10% interest. What will be the approximate amount of the investment fund on December 31, 2020?

Select one:

a.

$66,860

b.

$60,782

c.

$67,012

d.

$70,363

e.

$73,546