Tony deposits $2000 into a savings account for his daughter when she is born followed by quarterly payments of $400 at the end of each quarter until there is $30,000 in the fund.How many years will it take for the savings account to reach $30,000 if it earns 3.5% compounded semi-annually for the entire time?

A)

15.776 years

B)

31.551 years

C)

26.526 years

D)

13.263 years

E)

13.175 years