The Academy for Academic Excellence has just announced their winner for the most successful student in mathematics This student will receive a grant for their college education as well as national recognition for academic excellence in the field of mathematics. The grant will cover $12,177.17 of the cost of school per year for 5 years. If the initial amount is invested into an account over the five years, paying an annual interest rate of 5,5%, and you are to withdraw from this account until the remaining balance after the 5 years is zero dollars, determine the initial amount of the grant. Round your answer to the nearest dollar. a $52,000 c. $60,886 b. $55,200 d. $64,235 LES