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Kam expects to retire in 22 years. Beginning one month after his retirement, he would like to receive $590 per month for 25 years. How

Kam expects to retire in 22 years. Beginning one month after his retirement, he would like to receive $590 per month for 25 years. How much must he deposit into a fund today to be able to do so if the rate of interest on the deposit is 6.12% compounded monthly?

A. $20,636.61

B. $26,636.61

C. $27,198.33

D. $29,636.61

E. $23,636.61

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