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Paul intends to retire in 15 years and would like to receive $1,500 every month for 20 years, starting at the end of the first

Paul intends to retire in 15 years and would like to receive $1,500 every month for 20 years, starting at the end of the first month in which he retires. How much must he deposit in an account today if interest is 5% compounded annually?

A. $93,834.03

B. $91,834.03

C. $95,755.00

D. $94,334.30

E. $99,134.03

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