Kabir wants to accumulate $117,000 in 5 years. To reach his goal, he plans on making equal semiannual deposits into an investment account that earns 8% annually. How much must Kabir invest every six months? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $18,941.08

B) $11,739.45

C) $14,425.03

D) $11,700.00

E) $9,745.05

PLEASE EXPLAIN IN DETAILS FOR ME. THANK YOU.