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. $75,285.77

b. $78,954.81

c. $76,184.59

d. $70,985.15