Alva Thomas has decided to place $10,000 in an account payable to his alma matter when he dies. If the account grows at an annual rate of 6% compounded monthly and he lives for another 10 years, the university will receive

Select one:

a. 10,000(1 + .06)120

b. 10,000(1 + .005)120

c. 10,000/ (1 + .005)120

d. 10,000(1 + .06)10