Beatrice is considering investing in an annuity being offered by Kalaymyo Investments Ltd. The annuity will pay her $1,500 per month for 5 years. Beatrice is trying to work out how much this annuity is worth. She thinks she should receive a return equivalent to a nominal interest rate of 6.8% per annum, compounding quarterly. What is the value of this annuity to Beatrice?

Select one:

a.$78,954.81

b.$70,985.15

c.$75,285.77

d.$76,184.59