Jill is wishing to accumulate $21,000 for a renovation in 4 years time. To do this, she will make 16 deposits (quarterly) with the first deposit today. If she can earn 11.9% per annum compounding quarterly, what regular deposit will be needed? (round to nearest cent; dont use $ sign or commas)

Select one:

a. $1043.88

b. $2125.57

c. $3932.41

d. $1013.73