Fred wants to save enough money each year so that he can purchase a sports car in January 201 1 Fred receives a large bonus from his employer every December 3 1 . He anticipates that the car will cost $54,000 on January 1. 201 1. Which of the following will Fred need to calculate how much he must save each December 3 1 ?

a. The anticipated interest rate and the present value of $1 table.

b. The anticipated interest rate and the future value of $1 table.

c. The anticipated interest rate and the present value table for annuities.

d. The anticipated interest rate and the future value table for annuities.

(Appendix)