You Want to Deposit Amounts in the Bank at the End

Multiple Choice

You want to deposit amounts in the bank at the end of 2011,2012,2013 and 2014,so that you have $1259.71 in your account on 1 January 2015.Calculate how large each of your payments would need to be if the bank compounds quarterly at 8% p.a.

A) $279.56
B) $259.83
C) $284.19
D) $314.93