At the End of 8 Years,your Friend Wants to Have

Multiple Choice

At the end of 8 years,your friend wants to have $50,000 saved for a down payment on a house.He expects to earn 8%-compounded monthly-on his investments over the next 8 years.How much would your friend have to put in his investment account each month to reach his goal?

A) $188
B) $374
C) $392
D) $521