Computing Annuity Payment: Jane Ogden Wants to Save for a Trip

Computing annuity payment: Jane Ogden wants to save for a trip to Australia. She will need $12,000 at the end of four years. She can invest a certain amount at the beginning of each of the next four years in a bank account that will pay her 6.8 per cent annually. How much will she have to invest annually to reach her target? (Round to the nearest dollar.)

A) $3,000
B) $2,980
C) $2,538
D) $2,711