Dae-Sung is retiring in 16 years, and wants to save some money. He will make quarterly deposits of $2,891.00 (at the end of every period) in an investment account paying r⁽¹²⁾= 6.675%. How much will he have when he retires?

a) This question deals with theAnswer 1 Question 1presentfuturevalue of an annuityAnswer 2 Question 1immediatedue.

b) There will beAnswer 3 Question 1payments. The payment period isAnswer 4 Question 1dailyweeklybi-weeklymonthlyquarterlysemi-annualannual

c) The payment amount is $Answer 5 Question 1

d) The effective interest rate per period isAnswer 6 Question 1%

e) The present/future value is $Answer 7 Question 1