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. Mr. Chillicothe hopes to retire in 61 years. (Yes, he plans to work to a fairly old age.) His plan is to deposit $3,000
. Mr. Chillicothe hopes to retire in 61 years. (Yes, he plans to work to a fairly old age.) His plan is to deposit $3,000 into a savings account at Crystal Lake Bank at the beginning of each of years 1 - 28, and then $5,000 at the beginning of each of years 29 through 61. If he can earn a 4.2% average annual rate of return on his growing balance, how much money should he have by the time he retires (at the end of year 61)? O A. $1,121,462.84 OB. $984,356.28 O C. $519,243.67 OD. $939,679.73 O E. $944,679.73
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