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Zak is proud to have very thoughtful parents, who established a college savings plan for him when he was born. They deposited $500 into this

Zak is proud to have very thoughtful parents, who established a college savings plan for him when he was born. They deposited $500 into this account on the last day of each calendar year. The account has been earning 10.9%, compounded yearly. How much, can Zak withdraw from his account on his 18th birthday? Round your answer to the nearest dollar.

Select one:

a. $24,946

b. $30,028

c. $33,307

d. $27,560

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