erardo has nothing in his retirement account. However, he plans to save $$8,400\mathrm{.}00$ per year in his retirement account for each of the next $19$ years. His first contribution to his retirement account is expected in $1$ year. Gerardo expects to earn $6\mathrm{.}10$ percent per year in his retirement account. Gerardo plans to retire in $19$ years, immediately after making his last $$8,400\mathrm{.}00$ contribution to his retirement account. In retirement, Gerardo plans to withdraw $$48,000\mathrm{.}00$ per year for as long as he can. How many payments of $$48,000\mathrm{.}00$ can Gerardo expect to receive in retirement if he receives annual payments of $$48,000\mathrm{.}00$ in retirement and his first retirement payment is received exactly $1$ year after he retires?

$8\mathrm{.}64($plus or minus $0\mathrm{.}2$ payments$)$

$7\mathrm{.}64($plus or minus $0\mathrm{.}2$ payments$)$

$7\mathrm{.}10($plus or minus $0\mathrm{.}2$ payments$)$

Gerardo can make an infinite number of annual withdrawals of $$48,000\mathrm{.}00$ in retirement

D is not correct and neither A$,$ B$,$ nor C is within $\mathrm{.}02$ payments of the correct answer