Comprehensive givencurrent income 50000income needed in, Ask an Expert

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Comprehensive Given:

current income $50,000

income needed in retirement $45,000

current age 35

age at retirement 70

age at death 90

investment return prior to retirement 7%

investment return during retirement 4%

a) Calculate the nest-egg needed at retirement. Assume the annual income amount will be taken at the beginning of each year during retirement.

b) How much must this individual save each year in order to meet the retirement-savings goal? Assume the individual will save an equal amount annually.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92853939

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