As Jorge Starts Working Now at the Age of 22

Multiple Choice

As Jorge starts working now at the age of 22, he decides to make regular contributions to a savings account.He wants to accumulate enough by age 55 to fund an annuity of $4,800 per month until age 80.
What should his monthly contributions be? Assume that both accounts pay 8.5%, compounded
Monthly.Round to the nearest cent.

A) $274.82
B) $265.82
C) $261.08
D) $270.82
E) $288.82