10. Jordan is 55 and wants to retire in 12 years. His family has a history of living well into their 90s. Therefore, he 2% estimates that he will live to age 97. He currently has a salary of $100,000 and expects that he will need about 8 of that amount annually if he were retired. He can earn 9 percent in his portfolio and expects inflation to be 3 percent. Jordan currently has $325,000 invested for his retirement. His Social Security retirement benetit today's dollars is $30,000 per year at normal age retirement of age 67. How much does he need to save each year at year end to meet his retirement goals? a. $6,245. b. $7,659 c. $8,432 d. $9,252