You plan to go to Ireland in 3 years. You anticipate that you will need $12,000 for expenses (travel, lodging, food, etc.). An account at your local bank pays 4.46% per year compounded monthly. How much should you deposit each month in this account to achieve your goal?

Present Value with compound interest

Future V alue of an Annuity

Present V alue of an Annuity

Amortization

Sinking Fund

a. $278.41

b. $404.41 c. $391.94 d. $342.94 e. $312.15