Mark and Mabel live modestly, They believe they can live comfortably if they have saved $500,000…

Mark and Mabel live modestly, They believe they can live comfortably if they have saved $500,000 by the time they retire in 22 years, but they realize they nee to start starting some money at the end of each year to meet this goal. Conservative Investors, their portfolio is structured so the average return is expected te be 5 percent; they do not anticipate making any portfolio changes once they retire. They want to plan for a retirement lasting 30 years, if they assume inflation will average 2%, how much will they need to save at the end of each year to meet their retirement goal?

A. $10,870

B. $16,480.

C. $18,315.

D. $7,525

E. $12,985