1. Mr. & Mrs. Brown deposit $750 per year into a college fund account for their son, William, starting on his first birthday and continuing through his 20th birthday. Then there are five withdrawals (once in a year for five years) from the account to pay for college (B.A. and M.A. degree) expenses. If the fund earns 4%, what is the value of withdrawal amount?

a. 22,333

b. 5,218

c. 5,117

d. 5,017