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 $6,500 per month until age 80.
What should his monthly contributions be? Assume that both accounts pay 8.75%, compounded
Monthly.Round to the nearest cent.

A) $357.94
B) $326.74
C) $343.94
D) $334.94
E) $339.94