If you invest $20,000 for the next 3 years at 8.2% p.a. (interest paid annually and then reinvested), what is the value of your investment at the end of the three year period?

Select one:

a. $23,414.48.

b. $24,920.00.

c. $25,334.47.

d. $27,411.89.

e. None of the above