After Retirement, You Expect to Live for 25 Years

Multiple Choice

After retirement, you expect to live for 25 years. You would like to have $75,000 income each year. How much should you have saved in the retirement to receive this income, if the interest is 9% per year (assume that the payments start on the day of retirement) ?

A) $736,693.47
B) $802,995.88
C) $2,043,750
D) None of the above