A Property Owner Has Several Rental Units and Wants to Build

Multiple Choice

A property owner has several rental units and wants to build more. How much of each month's rental income should be deposited at the beginning of each month in an account that earns an annual rate of 7.9%, compounded monthly, if the goal is to have $300,000 at the end of 5 years? Round your answer to the nearest cent. ​

A) $9,018.39
B) $4,066.80
C) $5,052.86
D) $6,537.27
E) $3,365.48