Question $2(1$ point$)$

You are $40$ years old and want to retire at age $55.$ Each year, starting one year from now, you will deposit $$35,000$ into a savings account that pays $7\mathrm{.}5\%$ interest. The last deposit will be on your $55$th birthday. On your $55$th birthday you will switch the accumulated savings into a bank account that also pays $7\mathrm{.}5\%$ interest. You will withdraw your annual income at t$|$ end of that year $($on your $56$th birthday$)$ and each subsequent year until your $85$ th birthday. How much can you withdraw $($annually$)$ in retirement?

$$75,263\mathrm{.}78$

$$69,567\mathrm{.}89$

$$77,401\mathrm{.}60$

$$65,275\mathrm{.}12$