Question $4(0\mathrm{.}5$ points$)$

Your retired father has $$500,000$ invested in an annuity account that provides $8\%$

p$.$a$.$ He wants to withdraw $$50,000$ at the end of each year, beginning in $12$ months.

How many years will it take to exhaust his retirement money, i$.$e$.,$ run the account

down to zero?

$19\mathrm{.}1$

$18\mathrm{.}6$

$20\mathrm{.}9$

$17\mathrm{.}3$