Aunt Elsa Has $500,000 Invested at 6

Multiple Choice

Aunt Elsa has $500,000 invested at 6.5%, and she plans to retire.She wants to withdraw $40,000 at the beginning of each year, starting immediately.What is the maximum number of whole payments that can be withdrawn before the account is exhausted; i.e., before the account balance would become negative? (Hint: Round down to the nearest whole number.)

A) 18
B) 19
C) 20
D) 21
E) 22