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 20 years. Assume that money can be deposited at 6% per year compounded annually. What exact amount will Charles need in 17 years? Use the accompanying present value table. Click the icon to view the present value table. O A. $252,340.00 OB. $245,476.00 OC. $480,986.00 OD. $258,808.00 Present Value of a $1.00 Ordinary Annuity Rate per period Periods 2% 3% 4% 5% 6% 7% 0.980 0.971 0.962 0.952 0.943 0.935 1.942 1.913 1.886 1.859 1.833 1.808 3 2.884 2.829 2.775 2.723 2.673 2.624 4 3.808 3.717 3.630 3.546 3.465 3.387 5 4.713 4.580 4.452 4.329 4.212 4.100 6 5.601 5.417 5.242 5.076 4.917 4.767 7 6.472 6.230 6.002 5.786 5.582 5.389 8 7.325 7.020 6.733 6.463 6.210 5.971 9 8 .162 7.786 7.435 7.108 6.802 6.515 10 8.983 8.530 8.111 7.722 7.360 7.024 119.787 9.253 8.760 8.306 7.887 7.499 12 10.575 9.954 9.385 8.863 8.384 7.943 13 11.348 10.635 9.986 9.394 8.853 8.358 14 12.106 11.296 10.563 9.899 9.295 8.745 15 12.849 11.938 11.118 10.380 9.712 9.108 8% 0.926 1.783 2.577 3.312 3.993 4.623 5.206 5.747 6.247 6.710 7.139 7.536 7.904 8.244 8.559 9% 10% 12% 0.917 0.909 0.893 1.759 1.736 1.690 2.531 2.487 2.402 3.240 3.170 3.037 3.890 3.791 3.605 4.486 4.355 4.111 5.033 4.868 4.564 5.535 5.335 4.968 5.995 5.759 5.328 6.418 6.145 5.650 6.805 6.495 5.938 7.161 6.814 6.194 7.487 7.103 6.424 7.786 7.367 6.628 8.061 7.606 6.811 16 13.578 12.561 11.652 10.838 10.106 9.447 8.85] 8.313 7.824 6974 17 14.292 13.166 12.166 11.274 10.477 9.763 9.122 8.544 8.022 7.120 18 14.992 13.754 12.69 11.690 10.828 10.059 9372 8.756 8.2017.250 19 15.678 14.324 13.134 12.085 11.158 10.336 9.604 8.950 8.365 7.366 20 16.51 14.877 13.50 12.462 11.470 10.594 9.818 9.129 8.514 7.469 | 15 19.523 17.413 15.622 14.094 12.783 11.64 10.675 9823 9077 743 30 22.396 19.600 17.292 15.372 13.765 12.409 11258 10.274 9.427 8.055 40 27.355 23.115 19.793 17.19 15.046 13.332 11.925 10.757 9.779 8.244 | 50 31.424 15.730 21.482 18.2% 15.762 13.801 12 133 10.962 9915 8304