During retirement, Dr$.$ David Williams expects to earn an annual nominal rate of return of $9\%($before tax and compounded annually$)$ on his savings. He would like to draw an annual income of $$35,000,$ at the beginning of each year, for $25$ years, indexed for an annual $1\mathrm{.}5\%$ rate of inflation. How much money does Dr$.$ Williams need to accumulate by his date of retirement to provide for his annual desired income?

Approximately $$423048$

Approximately $$300753$

Approximately $$343686$

Approximately $$346339$

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