For the last 20 years, terry has made regular quarterly payments in the amount of $308 into an account paying 1.5% compounded quarterly. if, at the end of the 20 year period, terry stops making deposits, transfers the balance to an account paying 5.5% interest compounded annually, and withdraws a annual salary from the account, determine the amount that he will receive every year for 10 years. round to the nearest cent.
a. $28,672.88
b. $3,803.97
c. $28,780.40
d. $3,074.66
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