On your 10th birthday you started saving $10/month from allowance. You did this on the first day of each month until today when you turned 18 years old. Today you made you last $10 payment and have $1,314.85 in your account. The annual rate of return on this savings is closest to what value?

Select one:

a. 7.27%

b. 7.67%

c. 7.47%

d. 7.37%

e. 7.57%