What Single Amount Deposited Now into an Account Paying $9 \frac { 2 } { 3 } \%$

Multiple Choice

What single amount deposited now into an account paying $9 \frac { 2 } { 3 } \%$ annual interest, compounded quarterly, would fund an annuity paying $\$ 3,050$ quarterly for the next 29 years?

A) $\quad \$ 118,273.49$
B) $\$ 118,318.61$
C) $\quad \$ 118,298.49$
D) $\quad \$ 118,448.28$