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Daryl wishes to save money to provide for his retirement. Beginning one month from now, he will begin depositing a fixed amount into a retirement

Daryl wishes to save money to provide for his retirement. Beginning one month from now, he will begin depositing a fixed amount into a retirement savings account that will earn 12% compounded monthly. He will make 360 such deposits. Then, one year after making his final deposit, he will withdraw $100,000 annually for 25 years. The fund will continue to earn 12% compounded monthly. How much should the monthly deposits be for his retirement plan?

A) 189.58

B) 199.58

C) 214.21

D) 234.89

E) 249.38

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