Larry begins making monthly deposits into a retirement fund at age 30. He plans to retire at age 65, at which point he will stop making deposits into the fund and will begin making monthly withdrawals. His retirement account earns interest at an annual rate of 4.5%, compounded monthly.

Larry would like to be able to withdraw $2750 every month for 15 years after retirement. How much should he deposit at the end of each month until he retires to ensure that he has enough money at retirement to meet this goal? Hint: First figure out how much Larry needs to have in his retirement fund when he retires.

Group of answer choices