You agree to make 24 deposits of $500 at the beginning of each month into a bank account. At the end of the 24th month, you will have $13,000 in your account. If the bank compounds interest monthly, what nominal annual interest rate (rounded to one decimal place) will you be earning? Select one:

a. 7.6%

b. 8.8%

c. 8.0%

d. 8.4%