How Much Is Needed in an Account That Earns an Annual

Multiple Choice

How much is needed in an account that earns an annual rate of 8.4% compounded monthly in order to withdraw $1,200 at the end of each month for 22 years? Round your answer to the nearest cent. ​

A) $103,164.36
B) $156,715.29
C) $151,429.66
D) $144,245.22
E) $134,479.83