Approximately How Much Should Be Accumulated by the Beginning of Retirement

Multiple Choice

Approximately how much should be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for 25 years,during which time the fund will earn 8% interest with monthly compounding?

A) $261,500.00
B) $323,800.00
C) $578,700.00
D) $690,000.00