Granny Gums has established a scholarship at the Martin College of Dentistry. She will make deposits into an endowment account that pays 12% per year based on the following schedule. If the first scholarship is to be awarded one year after the first deposit is made and will be ghen indefinitely, what is the scholarship amount? a) $6,569 b) $4,569 c) 59,869 d) $3,569