7) Erica intends to retire in 37.5 years and would like to receive $6600.00 every 6 months for 14 years, starting on the date of her retirement. How much must she deposit in an account today if interest is 6.25% compounded semi-annually?

A)$12 151.97

B) $12 115.97

C) $12 321.82

D) $12 132.82

E)$12 511.97