Eighteen years ago, Mr Chan started a savings account for his daughter so that she would receive $25 000 on her eighteenth birthday. What was the original principal if a 10% pa rate of interest compounded quarterly applied at the time of the deposit? OA. $4224.95 B. $4163.41 OC. $4133.49 OD. $4496.46

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Eighteen years ago, Mr Chan started a savings account for his daughter so that she would receive $25 000 on her eighteenth birthday. What was the original principal if a 10% pa rate of
interest compounded quarterly applied at the time of the deposit?
A. $4224.95
B. $4163.41
C. $4133.49
D. $4496.46
Transcribed Image Text:Eighteen years ago, Mr Chan started a savings account for his daughter so that she would receive $25 000 on her eighteenth birthday. What was the original principal if a 10% pa rate of interest compounded quarterly applied at the time of the deposit? A. $4224.95 B. $4163.41 C. $4133.49 D. $4496.46
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