7. Laura wants to save money to provide for her retirement.Beginning one month from today, she will start depositing a fixed amount into a retirement savings account that will earn 9% compounded monthly.She will make 360 such deposits.Then, one year after making her final deposit, she will withdraw $80,000 annually for 25 years.The account will continue to earn 9% compounded monthly.How much should Laura deposit monthly into her retirement savings account?

A) $289.85

B) $349.67

C) $416.34

D) $434.98

E) $459.83

Why need use EAR here