Question $4(1$ point$)$

$$ Saved

Tony has a series of payments of $$1000$ which are due at the end of each year for five years. If the payments are deferred for two years and interest is $9\%$ compounded quarterly, What is the present value at the beginning of the deferment period?

$$ $$3924\mathrm{.}60$

$$3229\mathrm{.}52$

$$4370\mathrm{.}98$

$$5039\mathrm{.}70$