Deposits of $R are made every 3 months starting June 15,2010 in a fund paying interest at j₄ = 8%.Immediately after the deposit on December 15,2018,there is $40,000 in the fund.What is R? A)$800.09 B)$832.75 C)$867.46 D)$943.85

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The correct answer is A.The future value of the deposits made on June 15, 2010, September 15, 2010, December 15, 2010, ..., December 15, 2018, is$$40,000 = R\left ( 1+\frac{0.08}{4} \right )^{32} = R(1.02)^{32}$$Solving for R, we get$$R = \frac{40,000}{(1.02)^{32}} = 800.09$$

Deposits of $R Are Made Every 3 Months Starting June