Question $8(0\mathrm{.}5$ points$)$

You will make deposits of $$1,000$ at the beginning of each year for $35$ years in your

investment account. The first payment will be made today. After $35$ years, you will

immediately withdraw all money from the account to buy a retirement annuity for $30$

years with equal annual payments $($paid at year$-$end$)$ from a life insurance company.

If the annual rate of return for the deposit is $5\%$ p$.$a$.$ and that for the retirement

annuity is $4\%$ p$.$a$.,$ how much is the annual payment from the insurance company?

$$5,389\mathrm{.}62$

$$5,484\mathrm{.}39$

$$5,223\mathrm{.}23$

$$5,311\mathrm{.}23$