Question 9 (1 point) Grandma Esther is starting an investment for her newborn grandson. She places $1000 at the beginning of each year into an account for 20 years. Each subsequent payment is 5% larger than the previous payment. If the investment account earns 3% annual effective interest, calculate the present value at time 0 in her grandson's account. O a) 24,626.00 Ob) 25,364.78 Oc) 22,336,51 d) 23,453.33 e) 24,156.93