Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 19 years. Assume that money can be deposited at 12% per year compounded annually. What exact amount
Will Charles need in 17 years?
A) $164,327.68
B) $204,619.58
C) $159,492.74
D) $162,047.16

Question

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The Answer of Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 19 years. Assume that money can be deposited at 12% per year compounded annually. What exact amount
Will Charles need in 17 years?
A) $164,327.68
B) $204,619.58
C) $159,492.74
D) $162,047.16

Charles Wants to Retire in 17 Years