A loan of $11500 is to be repaid by 1010 annual payments beginning 66 months from the date of the loan. The first payment is to be half as large as the others. For the first 3 1/2 years interest is at 0.048 effective; for the remainder of the term interest is at 0.08 effective. Find amount of the first payment. A. $ 676.61 B. $ 695.95 C. $ 3753.48 D. $ 811.94 E. $ 2219.42