Road Runner is trying to save for retirement. He would like to have enough saved to provide him with $175,000 in income per year for 20 years (a 20-year ordinary annuity). If his investments during retirement will earn 5.5 percent annually, how much must he have in his retirement account to accomplish his goal? (Hint: Assume he will spend all of the principal balance over the 20 years of retirement and that payments happen at the end of each year, so that the retirement fund is an ordinary annuity.)

		$2,091,317
		$6,101,956
		$3,500,000
		There is not enough information to answer this question.