Jane Wants to Set Aside Funds to Take an Around

Multiple Choice

Jane wants to set aside funds to take an around the world cruise in four years. Jane expects that she will need $12,000 for her dream vacation. If she is able to earn 8% per annum on an investment, how much will she have to set aside today so that she will have sufficient funds available?

A) $2,663.
B) $16,325.
C) $8,820.
D) $8,167.