23-24 both xx

23. A student at a U.S. college wins a scholarship worth $50,000. Instead of the lump sum, they choose to be paid by 48 monthly payments of $R, with the first monthly payment to be made 5 months from now. If the money earns interest at j12=9%, what is the monthly payment? (A) $1291.62 (B) $1282.00 (C) $1272.46 (D) $1244.25 24. A student wishes to accumulate $4000. She makes quarterly deposits of $200 into an account, with the 1th quarterly deposit being made on January 1,2020 . The account earns interest at j4=6%. What is the size of the final, smaller quarterly deposit (drop payment) and on what date will this final deposit be made? (A) A final deposit of $159.73 is made on July 1, 2024 (B) A final deposit of $102.12 is made on July 1,2024 (C) A final deposit of $159.73 is made on April 1,2024 (D) A final deposit of $102.12 is made on April 1, 2024