You plan to retire in 30 years during retirement you will, Ask an Expert

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You plan to retire in 30 years. During retirement you will spend $70,000 (real dollars) per year at the end of each year for 20 years. You expect the stock market to return 8.5% (nominal) and inflation to be 2% per year. You anticipate to receiving an inheritance of $100,000 (real dollars) from your parents in 20 years from now.

How much (in terms of real dollars) do you need to save per year over the next 30 years to meet your retirement needs?

You must explain your steps and show calculator entries to receive any credit.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92392060

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