Amy is 12 years old now and will attend college at age 18. Her parents plan to fund her college for four years. College costs $20,000 per year today. If her parents have saved $10,000 for this goal. Assume they can invest for 10% per year and inflation is 3.5% per year compounding annually.
What is the future value of what Amy's parents currently save?
A) $10,000
B) $14,411.70
C) $14823.30