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14 For the next 8 years, an investor will deposit $1,000 every year into a special investment funds. The fund pays an annual interest rate
14 For the next 8 years, an investor will deposit $1,000 every year into a special investment funds. The fund pays an annual interest rate of 10% for the first 3 years (or from today to the end of year 3). After that, the annual interest rate drops to 5% per year. What is the account balance of the investor at the end of year 8? Assume that the each deposit is made at the end of year. A $9,549.11 B) $9,750.12 E $10,446.37 $11,435.89 2 Points None of the above
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