• Le Roy Frankfort, who just retired, wants to be able to live a nice lifestyle in his remaining years. How much would he need to have on deposit today in his Fort Lauderdale National Bank account that earns 3.8% interest per year if he wants to be able to withdraw $72,000 at the beginning of each year for the next 36 years
• $1,399,920.34
• $1,453,117.31
• $5,164,290.89

$676,908.97

• $5,564,234.24