4. You must make payment of $50,000 ten years from today. To prepare for this pay- ment, you will make 8 equal deposits for the next 8 quarters (one quarter is 3 months), with the first payment one quarter from today. You have access to a bank deposit that pays a stated annual rate of 1.25% with quarterly compounding. The value of each of the 8 payments required to reach your objective is closest to (2 points) A. $1,175 B. $4,020

1. You must make a payment of $50,000 ten years from today. To prepare for this payment, you will make 8 equal deposits for the next 8 quarters (one quarter is 3 months), with the first payment one quarter from today. You have access to a bank deposit that pays a stated annual rate of 1.25% with quarterly compounding. The value of each of the 8 payments required to reach your objective is closest to (2 points) A. $1,175 B. $4,020