Solve the problem.Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 19 years. Assume that money can be deposited at 12% per year compounded annually. What exact amount will Charles need in 17 years?
A. $162,047.16
B. $204,619.58
C. $159,492.74
D. $164,327.68
Answer: A
Mathematics
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