Lucy and Fred Want to Begin Saving for Their Baby's

Multiple Choice

Lucy and Fred want to begin saving for their baby's college education.They estimate that they will need $350,000 in eighteen years.If they are able to earn 5% per annum, how much must be deposited at the end of each of the next eighteen years to fund the education?

A) $13,554.
B) $29,941.
C) $28,960.
D) $12,441.