You Will Need Three Amounts of $14 200 in Each

Multiple Choice

You will need three amounts of $14 200 in each year for four years in order to go to school. You are planning on going to school starting in 5 years and ending in 8 years (years 5, 6, 7, 8) . You are able to earn 9.64% compounded quarterly. How much money do you have to have today in order to be able to go to school?

A) $30 574.35
B) $30 457.35
C) $30 754.35
D) $30 475.34
E) $33 354.35