Olivia is $52$ years old and plans to retire in $15$ years. Her family has a history of living into their early $90$s$,$ so she estimates she will live until age $92.$ Olivia$$s current salary is $$120,000,$ and she estimates she will need about $75\%$ of that amount annually in retirement. She expects to earn a return of $7\%$ on her retirement investments and anticipates an annual inflation rate of $2\mathrm{.}5\%.$ Olivia currently has $$400,000$ saved for retirement. Her expected Social Security benefit at full retirement age of $67$ is $$35,000$ per year in today$$s dollars. Using the annuity method, how much does Olivia need to save each year at year end to achieve her retirement goals?

Group of answer choices

$$42,654$

$$5,708$

$$18,453$

$$16,789$Olivia is $52$ years old and plans to retire in $15$ years. Her family has a history of living into their early $90$s$,$ so she estimates she will live until age $92.$ Olivia$$s current salary is $$120,000,$ and she estimates she will need about $75\%$ of that amount annually in retirement. She expects to earn a return of $7\%$ on her retirement investments and anticipates an annual inflation rate of $2\mathrm{.}5\%.$ Olivia currently has $$400,000$ saved for retirement. Her expected Social Security benefit at full retirement age of $67$ is $$35,000$ per year in today$$s dollars. Using the annuity method, how much does Olivia need to save each year at year end to achieve her retirement goals?

Group of answer choices

$$42,654$

$$5,708$

$$18,453$

$$16,789$