To save for her newborn son's college education, Kelli Peterson will invest $1,500.00 at the end of each year for the next 18 years. The interest rate she expects to earn on her investment is 9%. How much money will she have saved by the time her son turns 18?

a. $69,027.00
b. $68,399.00
c. $61,952.00
d. $55,461.00

Ans: c. $61,952.00