Annette is planning a trip to Africa, starting three years from today. She thinks she will need about $25,000 for each year that she is travelling, and would like to have this money available at the start of each year that she is travelling. She will travel all around Africa for four years. She can make a deposit today into her bank which pays an interest rate of 6% per annum, compounded annually. Her first withdrawal will be on the day she starts her trip. Her required savings today to fund this trip are

Select one:

a. $73,975.19

b. $78,568.11

c. $71,825.30

d. $77,098.29