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Mr. Jenkins has deposited $3880 at the end of each year into a superannuation fund for the last 25 years. His investments earned j1=14.63% p.a.
Mr. Jenkins has deposited $3880 at the end of each year into a superannuation fund for the last 25 years. His investments earned j1=14.63% p.a. for the first 20 years and j1=3.06% p.a. for the remaining years. How much money does he have in his account 25 years after his final deposit?
A.
$111191.10
B.
$442320.97
C.
$462945.14
D.
$926262.89
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