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Joe wants to start an SEP-IRA that will have $460,000 in it when he retires in 15 years. How much should he invest semiannually in his IRA to do this if the interest is 15% compounded semiannually? Round to the nearest cent OA. $17,612.13 O B. $4435.77 OC. $4448.77 O D. $4790.74

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Calculate the amount to be deposited as follows: fel -PMT(15%/2,15*2,,-460000) Function Arguments PMT Rate 15%/2 0.075 Nper 15*2 Pv number 460000 number 4448.768453 Fv -460000 Type Calculates the payment for a loan based on constant payments and a constant interest rate. Type is a logical value: payment at the beginning of the period 1; payment at the end of the period 0 or omitted. Formula result4448.768453 Help on this function OK Cancel Therefore, the amount to be deposited is 54,448.77 4

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