How many monthly payments of $100 would it take for an RRSP to have a balance of $12,000 at an interest rate of 3.4% p.a. compounding semi-annually?

a. 87 payments of $100 and a smaller final payment

b. 103 payments of $100 and a smaller final payment

c. 36 payments of $100 and a smaller final payment

d. 102 payments of $100 and a smaller final payment

e. 47 payments of $100 and a smaller final payment