Your parents have $500,000 in an annuity account that earns 7.25% interest. They would like to be able to withdraw $5,000 at the end of each month. How long would it takes them to deplete the account, that is to run the account down to zero?

Group of answer choices

7.5 years

12.8 years

10.2 years

8 years

15.3 years