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You expect to save $1,000 at the beginning of every year for 8 years. During...

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Finance

You expect to save $1,000 at the beginning of every year for 8 years. During the first 3 years, your savings will earn 4%, compounded semi-annually. During the last 5 years, your savings will earn 5%, compounded monthly. How much money will you have after 8 years? Round to the nearest dollar.

Select one:

a.

$9,844

b.

$9,991

c.

$9,576

d.

$9,071

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