49. When your first child is born, you begin to save for college by depositing $500 per month in an account paying 12% interest per year. You increase the amount you save by 2% per year. With continuous investment and compounding, how much will you have accumulated in the account by the time your child enters college 18 years later? Round your answer to the nearest cent. a. $434,268.49 b. $4,342.68 c. $4,247,097.21 d. $5,052.23 e. $50,082.07 50. You are saving for your retirement by investing $300 per month in an annuity with a guaranteed interest rate of 12% per year. You increase the amount you invest at the rate of 3% per year. With continuous investment and compounding, how much will you have accumulated in the annuity by the time you retire in 35 years? Round your answer to the nearest cent. a. $2,553,147.20 b. $38,285.91 c. $3,812,449.58 d. $25,531.47 e. $303,395,494.38