You are wishing to accumulate $18,000 for an expedition in 4 years time. To do this, you will make 8 equal deposits (half yearly) with the first deposit today. If you earn 13.7% per annum compounding twice yearly, what deposit will be needed? (round to nearest cent; dont use $ sign or commas)

Select one:

a. $1650.84

b. $1763.92

c. $863.46

d. $3231.08