A Small Foundry Agrees to Pay $250 000 Two Years

A small foundry agrees to pay $250 000 two years from now to a supplier for a given amount of coking coal. The foundry plans to deposit a fixed amount in a bank account every three months, starting three months from now, so that at the end of two years the account holds $250 000. If the account pays 5.5% APR compounded monthly, how much must be deposited every three months?

A) $29 777
B) $29 740
C) $31 250
D) $29 770