John deposits an amount X at the beginning of each month (starting immediately) into a fund earning interest at an annual effective rate of 4%. The plan is to make 120 deposits (corresponding to 10 years). In the 10th through the 12th years, he makes a withdrawal of 5100 at the beginning of each year (3 withdrawals). The final withdrawal reduces the fund balance to zero. Calculate X. A. 75 B. 88 C. 100 D. 115 E. 130

explaining all the calculations