Casey wants to accumulate $40,000 in a fund with payments of $800 made at the end of every month. The interest rate is 5.39% compounded monthly.

How many payments (rounded up to the next payment) will it take to accumulate this amount? Multiple Choice

A. 50 payments

B. 25 payments

C. 45 payments

D. 46 payments

How long will it take to accumulate this amount? Multiple Choice

A. 5 years and 10 months

B. 6 years and 4 months

C. 5 years and 10 months

D. 3 years and 10 months