An Investment of $25,000 Is Made for a 10-Year Term

Multiple Choice

An investment of $25,000 is made for a 10-year term. After the term expires, equal withdrawals will be made at the end of every month for 15 years. What will the size of the monthly withdrawal be if the investment earns 9% compounded monthly for both the deposit and withdrawal periods.

A) $253.57
B) $161.95
C) $621.58
D) $251.68
E) $616.96