Mr. X has deposited $3846 at the end of each year into a superannuation fund for the last 16 years. His investments earned j1=6.05% p.a. for the first 11 years and j1=9.05% p.a. for the remaining years. How much money does he have in his account 16 years after his final deposit?

a.

$65258.93

b.

$89032.82

c.

$175935.14

d.

$112072.96