Xander Schauffele wishes to save money to provide for his retirement in 26 years. Beginning one month from now, he will begin depositing a fixed amount each month for the next 26 years into a retirement savings account that will earn 6% compounded monthly. Then, one year after making his final deposit, he will want to withdraw $80,300 annually for 15 years for his retirement. The fund will continue to earn 6% compounded monthly. How much should his monthly deposits be so that he will have enough money to purchase the annuity that pays $80,300 a year for 15 years when he retires? Multiple Choice $1,031.20 $2,472.48 $3,860.58 $1,082.76

Xander Schauffele wishes to save money to provide for his retirement in 26 years. Beginning one month from now, he will begin depositing a fixed amount each month for the next 26 years into a retirement savings account that will earn 6% compounded monthly Then, one year after making his final deposit, he will want to withdraw $80,300 annually for 15 years for his retirement. The fund will continue to earn 6% compounded monthly. How much should his monthly deposits be so that he will have enough money to purchase the annuity that pays $80,300 a year for 15 years when he retires? Multiple Choice $1,031.20 $2,472,48 $3,860.58 51,08276