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Currently, Ally Gator has saved $15,000 in her retirement account. Ally plans on saving $6500...

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Accounting

Currently, Ally Gator has saved $15,000 in her retirement account. Ally plans on saving $6500 annually for next 35 years and she assumes that she will earn 8% annually up until she retires. Ally is afraid that she will run out of money during her retirement, so she plans on applying the principles of a perpetual annuity to her retirement savings. If Ally plans to earn 4% annually during her retirement years, how much will she be able to withdraw annually forever?
$29,688
$39,365
$53,674
$60,813
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