If A₀ is the initial amount deposited in a savings that earns at a fixed rate of r percent per year, and if a constant amount of c is added to the account each year, then the amount A_n of the savings, n years after the initial deposit is made, is given by the equation

If Alan made an initial deposit of $10,000 that earns at a fixed rate of 4 percent per year, and he adds a constant amount of $3,000 to his account each year, what is A₃, the amount he has in the savings three years after he made his initial deposit?

A) $19,816.00
B) $20,248.64
C) $20,613.44
D) $20,623.23

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An = (1+). An-1 +c. 100