years. According to the ""Gala"" association the budget amounts will be 300,000 the first year and should increase by 0.5% each year. Calculate the total amount of the gift if the interest rate is 2%." Select one: a. 1 500 000 b. 1 488 490 c. 1 600 000 d. 1 427 967

"You wish to make a donation that will finance the school's Gala for the next 5 years. According to the ""Gala"" association the budget amounts will be 300,000 the first year and should increase by 0.5% each year. Calculate the total amount of the gift if the interest rate is 2%."

Select one:

a. 1 500 000

b. 1 488 490

c. 1 600 000

d. 1 427 967