Abby Mia Wants to Know How Much Must Be Deposited

Multiple Choice

Abby Mia wants to know how much must be deposited in her local bank today so that she will receive yearly payments of $18,000 for 20 years at a current rate of 9% compounded annually. (Use the tables in the handbook.)

A) $1,085.82
B) $1,463.13
C) $164,313
D) $163,313
E) None of these