It is your ${20}^{th}$ birthday and you plan to retire on your ${50}^{th}$ birthday. When you retire you

expect you will need $$58,000$ each year to cover your expenses starting at your ${50}^{th}$

birthday until and including your ${80}^{th}$ birthday. What do you need to start saving every

year starting next year in order to save enough for your retirement? The interest rate is

$4\%.$

a$.$ $$19,260\mathrm{.}04$

b$.$ $$18,935\mathrm{.}40$

c$.$ $$18,189\mathrm{.}07$

d$.$ $$17,882\mathrm{.}48$