Find the Periodic Withdrawal for an Annuity of $140,000 at 5

Multiple Choice

Find the periodic withdrawal for an annuity of $140,000 at 5%, paid out monthly for 17 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

A) $P M T = \$ 436.78$
B) $P M T = \$ 408.45$
C) $P M T = \$ 1,018.13$
D) $P M T = \$ 1,020.12$
E) $P M T = \$ 522.04$