Chlo is planning for her 15 year-old daughter's university education.She estimates that 1 year of university would cost $15,000 in today's dollars, but will rise with the rate of inflation of 2% year over year.How much would Chlo need to have accumulated by the time her daughter starts university at the age of 19 provided she attends university for 3 years and will receive funds at the beginning of each year?Assume an investment rate of 3.6%, compounded monthly.

a)$41,896

b)$43,775

c)$47,932

d)$49,689