1a Mary earns $100,000 per year. She plans to retire in 10 years and will live for 25 years after retiring. She desires an 80% wage replacement ratio. If she can earn 8% on her money and inflation will average 3% per year, how much will Mary need to fund her first year of retirement? Group of answer choices $100,000 $80,000 $134,392 $107,513

1b. Using the capital depletion approach, how much will Mary need on the day she retires to fund her retirement if she wants her annual retirement income to increase each year to match inflation? Group of answer choices $1,723,295 $1,537,294 $1,810,293 $1,612,297

1c. If Mary wants to leave $1,000,000 to her heirs after she dies, how much more must she have saved by the time she retires? Group of answer choices $1,000,000 $146,018 $287,314 $413,641

1d. If Mary currently has $250,000 in her 401(k) plan earning 8%, how much will this be worth in 10 years when she retires if she continues to contribute $8,000 per year at the end of each year? Group of answer choices $743,522 $701,319 $655,624 $539,731