You plan to accumulate $15,000 for a car in 4 years’ time. To do this, you will make 16 level deposits (quarterly) with the first deposit today. If you earn 9.8% per annum compounding quarterly, what regular deposit will be needed? (round to nearest cent; don’t use $ sign or commas)

Select one:

a. $777.02

b. $758.44

c. $1576.45

d. $2952.27