tion Completion Status: Moving to another question will save this response Question 8 5 points Michael has nothing in his retirement account. However, he plans to save $8,500.00 per year in his retirement account for each of the next 15 years. His first contribution to his rement account is expected in 1 year. Michael expects to earn 8.00 percent per year in his retirement account. Michael plans to retire in 15 years, immediately after making his $5.500.00 contribution to his retirement account, in retirement, Michael plans to withdraw 138,000.00 per year for as long as he can. How many payments of $3,000.00 can Michael expect to receive in retirement if the receives annual payments of $38,000.00 in retirement and his first retirement payment is received exactly 1 year after he retires? O&M plus or miss 02 payment) 354 0137 Michael can make an Dis not corect and minus 02 payment) of minos 0.2 paymen) es umber of and withof $38,000.00 in ment the AC within 02 payments of the correct answer Question & of 20