Charles is planning to take a holiday in Tahiti, three years from now, once the coronavirus pandemic is well and truly over. He wants to save up $5,000 for this trip. How much does he need to deposit into his bank today to achieve this goal, if the bank pays an interest rate of 8.4% per annum, compounded quarterly?

Select one: a. $3,769.83

b. $3,652.44

c. $3,896.38

d. $3,925.38