Quinn wants to retire with $5,500,000 in the bank account 25 years from now. Assume the interest rate is 10.8% and it compounds annually. Assuming Quinn currently has no assets reserves for his retirement, how much in payment should Quinn make each year to meet his goal of $5,500,000?

Group of answer choices

$47,236.34

$49,555.47

$51,362.24

$50,132.53