On the day your daughter is born, you deposit $1,000 in a college savings account that earns 8% compounded annually. On each of her birthdays thereafter, up to and including her 18th birthday, you...

On the day your daughter is born, you deposit $1,000 in a college savings account that earns 8% compounded annually. On each of her birthdays thereafter, up to and including her 18th birthday, you deposit an additional $1,000. How much money is in the college account the day after her 18th birthday? a. $37,450 b. $38,950 c. $41,450 d. $46,800.