John has nothing in his retirement account. However, he plans to save $8,600.00 per year in his retirement account for each of the next 12 years. His first contribution to his retirement account is expected in 1 year. John expects to earn 7.40 percent per year in his retirement account. John plans to retire in 12 years, immediately after making his last $8,600.00 contribution to his retirement account. In retirement, John plans to withdraw $48,000.00 per year for as long as he can. How many payments of $48,000.00 can John expect to receive in retirement if he receives annual payments of $48,000.00 in retirement and his first retirement payment is received exactly 1 year after he retires? 4.90 (plus or minus 0.2 payments) 3.59 (plus or minus 0.2 payments) 3.90 (plus or minus 0.2 payments) John can make an infinite number of annual withdrawals of $48,000.00 in retirement D is not correct and neither A, B, nor C is within .02 payments of the correct answer

John has nothing in his retirement account. However, he plans to save $8,600.00 per year in his retirement account for each of the next 12 years. His first contribution to his retirement account is expected in 1 year. John expects to earn 7.40 percent per year in his retirement account. John plans to retire in 12 years, immediately after making his last $8,600.00 contribution to his retirement account. In retirement, John plans to withdraw $48,000.00 per year for as long as he can. How many payments of $48,000.00 can John expect to receive in retirement if he receives annual payments of $48,000.00 in retirement and his first retirement payment is received exactly 1 year after he retires? 4.90 (plus or minus 0.2 payments) 3.59 (plus or minus 0.2 payments) 3.90 (plus or minus 0.2 payments) John can make an infinite number of annual withdrawals of $48,000,00 in retirement D is not correct and neither A, B, nor C is within .02 payments of the correct answer John has nothing in his retirement account. However, he plans to save $8,600.00 per year in his retirement account for each of the next 12 years. His first contribution to his retirement account is expected in 1 year. John expects to earn 7.40 percent per year in his retirement account. John plans to retire in 12 years, immediately after making his last $8,600.00 contribution to his retirement account. In retirement, John plans to withdraw $48,000.00 per year for as long as he can. How many payments of $48,000.00 can John expect to receive in retirement if he receives annual payments of $48,000.00 in retirement and his first retirement payment is received exactly 1 year after he retires? 4.90 (plus or minus 0.2 payments) 3.59 (plus or minus 0.2 payments) 3.90 (plus or minus 0.2 payments) John can make an infinite number of annual withdrawals of $48,000,00 in retirement D is not correct and neither A, B, nor C is within .02 payments of the correct