The parents of a newborn have decided to make deposits into an investment account on each of their son's birthdays, starting on his first birthday. The parents will deposit $2,500 on their son's first birthday and plan to increase the size of their deposits by 7% every year. The account is expected to earn an interest rate of 5% p.a. Assuming that the parents will make the last deposit on their son's 18th birthday, the amount available at that time will be closest to: O $121,664. O $50,554. $125,000 O $70,331