George Costanza just turned 40 and plans to retire in 25 years at age 65 . George would like to recelve annuat retirement payments of $125,000 over a 20 -year period in retirement, starting when he is 65 years old. George already has $75,000 saved for retirement. Assume George plans to receive his payments at the end of each year. How much must George save at the end each year for the next 25 years to achieve his goal if his investment will earn 8.5% compounded annually? 2 points