In relation to the previous year, suppose that you do not have that amount, but you decide to create a savings fund (College Fund) for your child's education today, August 1, 2021. You decide to contribute $ 250 dollars a month to this fund. Those monthly contributions will be invested in a AAA corporate bond mutual fund that yields 9% per year. If we assume that the yield is fixed at 9% for the 10 years that contributions will be made to this fund,

How much money will there be on August 1, 2031 in that account? (show your calculations)

a. $ 37,378 .89

b. $ 48,378.57

c. $ 40,969. 83

d. $ 38,820 .57