Cecilia plans to purchase a one-year internet plan. She has two payment options. She can either make 12 monthly payments of $55 starting today or she can make a one-off payment of $X today as the annual internet fee. The two options are equivalent at an interest rate of 1.8% p.a. compounded monthly. Which of the following gives the value of $X? (Only one answer is correct.)

Select one:

a. 653.61

b. 654.59

c. 666.47

d. None of the values is correct.

e. 56.00

f. 665.47