Earl Is 57 Years Old and Is Buying $85,000 of Life

Earl is 57 years old and is buying $85,000 of life insurance for an annual premium of $650.21. If he pays each annual premium in 12 equal installments, how much is each monthly payment? Round your answer to the nearest cent.

A) $54.18
B) $54.17
C) $54.07
D) $7083.33
E) $7084.43