Question: Dallas plans to save $ 4 2 , 0 0 0 . 0 0 per year for 5 years, with his first annual savings contribution

Dallas plans to save $42,000.00 per year for 5 years, with his first annual savings contribution expected later today. He then plans to withdraw $53,121.05 per year for as long as he can. Dallas expects to earn 9.95 percent per year. How many payments of $53,121.05 can Dallas expect to receive if his first annual payment of $53,121.05 is received in 5 years?
6.89 payments
6.04 payments
7.90 payments
4.78 payments
the answer cannot be obtained based on the given information
 Dallas plans to save $42,000.00 per year for 5 years, with

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