Suppose you want to save for your daughter's education. Your plan is to start saving for nine years before she starts college. The instant that you make the last payment, you will withdraw the first payment for her. The payments to her are expected to be $30,000 per year at the start of each of her four college years. You will save the same amount every month for nine years. The monthly interest rate you will be earning on your savings is 0.375%. Which of the following statements is (are) correct?

a) The annual effective interest rate is 4.594%

b) The present value of the payment (at Year 0) is $73,935.46

c) The amount that you must save each month is $845.52

d) The future value of the payments when the daughter completes college is $122,842.55

e) The annual nominal interest rate is 4.5%