Find the Periodic Withdrawal for an Annuity Containing $275,000 at 6

Multiple Choice

Find the periodic withdrawal for an annuity containing $275,000 at 6%, paid out monthly for 30 years. (Assume end-of-period deposits and compounding at the same intervals as deposits) . Round your answer to the nearest cent.

A) $P M T = \$ 1,476.26$
B) $P M T = \$ 1,829.58$
C) $P M T = \$ 1,647.84$
D) $P M T = \$ 1,650.26$
E) $P M T = \$ 1,648.76$