(Answered) Alison is currently 35 years old on alisons 21st birthday

Finance

Alison is currently 35 years old. On Alison's 21st birthday, she started saving $2000 per year. She made 15 annual $2000 deposits, with the last being on her 35th birthday. In other words, she contributed $30,0000. Throughout this 15-year period, she earned 8% on her savings. For the next 30 years, her money is expected to grow at 4% interest. Approximately, how much will she have in her savings account on her 65th birthday, that is, 30 years after making her last deposit? (Hint: The answer requires two time value of money calculations.)

$35,000
$55,000
$110,000
$135,000
$175,000

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