1. You are given the equation below. Which of the following statements is CORRECT? Select one: A. The equation will indicate the future value of an annuity of 10 payments, immediately after the 10th payment B. The equation will indicate the future value of an annuity due of 10 payments at the end of the 10th period. C. The equation will work where I make 10 annual payments commencing at the end of the first year if I wish to know the value at the beginning of the 10th year. D. None of the above are correct.

Jack wants to accumulate $18,000 for a motor-bike in 6 years time. To do this, he will make 24 level deposits (quarterly) with the first deposit today. If he earns 6.0% per annum compounding quarterly, what regular deposit will be needed? (round to nearest cent; dont use $ sign or commas)

a.

$628.63

b.

$1268.32

c.

$619.34

d.

$2434.46

FV=iC((1+i)101)(1+i)