Janice plans to retire in 10 years and would like to receive $3,000 per month for 15 years starting at the end of the first month after her retirement. Calculate the amount she must invest now if interest is 7.5% compounded monthly.

Select one:

a. $513,624.21

b. $523,615.61

c. $563,315.21

d. $153,224.61

e. $525,000.00