What Is the Size of the Payments That Must Be

Multiple Choice

What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays an annual rate of 8%, compounded semiannually, so that the account will have a future value of $110,000 at the end of 11 years? Round your answer to the nearest cent. ​

A) $17,573.48
B) $7,842.69
C) $916.44
D) $3,088.34
E) $1,597.49