Question: Garry currently has $ 2 5 , 2 0 0 . 0 0 saved. He plans to save $ 7 4 , 6 0 0

Garry currently has $25,200.00 saved. He plans to save $74,600.00 per year for 4 years, with his first annual savings contribution expected in 1 year. He then plans to withdraw $152,000.00 per year for as long as he can. Garry expects to earn 12.72 percent per year. How many payments of $152,000.00 can Garry expect to receive if his first annual payment of $152,000.00 is received in 4 years?
A number equal to or greater than $1.00 but less than $2.00
A number equal to or greater than $3.00 but less than $3.00
A number less than $1.00 or a number greater than $3.00
A number equal to or greater than $2.00 but less than $3.00
A number equal to or greater than $2.00 but less than $2.00

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