As Jorge Starts Working Now at the Age of 25

Multiple Choice

As Jorge starts working now at the age of 25, he decides to make regular contributions to a savings account.He wants to accumulate enough by age 55 to fund an annuity of $6,400 per month until age 80.
What should his monthly contributions be? Assume that both accounts pay 7.75%, compounded
Monthly.Round to the nearest cent.

A) $568.12
B) $598.02
C) $589.02
D) $612.02
E) $594.02