You've been awarded a scholarship that pays$170 a month for 5 years while you are in college. At a 7 percent annual discount rate with monthly compounding, what are these payments worth to you when you first start college? Assume the first payment will be received at the end of the month.

A) $8,025.00

B) $8,585.34

C) $8,816.34

D) $10,200.00

E) $8,403.34