Question: Percy currently has $ 2 4 , 4 0 0 . 0 0 saved. He plans to save $ 7 3 , 9 0 0

Percy currently has $24,400.00 saved. He plans to save $73,900.00 per year for 6 years, with his first annual savings contribution expected in 1 year. He then plans to withdraw $148,000.00 per year for as long as he can. Percy expects to earn 12.84 percent per year. How many payments of $148,000.00 can Percy expect to receive if his first annual payment of $148,000.00 is received in 6 years?
A number equal to or greater than $6.00 but less than $7.00
A number equal to or greater than $2.00 but less than $3.00
A number less than $2.00 or a number greater than $7.00
A number equal to or greater than $4.00 but less than $6.00
A number equal to or greater than $3.00 but less than $4.00

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