Find the Amount of Each Payment to Be Made into a Sinking

Multiple Choice

Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.
- $\$ 96,000$ ; money earns $4 \%$ compounded quarterly for $4 \frac{1}{4}$ years

A) $\$ 2469.83$
B) $\$ 2384.64$
C) $\$ 5208.77$
D) $\$ 802.58$