An annuity pays quarterly for 16 years at the beginning of each quarter. Payments during the first year are 250/quarter. Year 2 payments are each 105. The payments go up by 150 for each subsequent year but are level within each year. AEIR = 5%, please find the accumulated value of this annuity just prior to the payment at t=15.

Please show all steps, I don't need graphs so do not use excel, I need steps.

	A.	79,798.78
	B.	The answer does not appear here
	C.	72,848.29
	D.	154,014.68
	E.	156,104.12