2) a) You just got a job making $80,000/year. If your income increases at a rate of 2%/year, how much will you be making during the last year before retirement in 40 years? b) When you retire in 40 years, you would like your retirement income to be 80% of the amount that you made during the last year of your employment (calculated in part "a" above). How much will this be? c) If you can make 6% interest on your investments, what amount do you need in the bank when you retire in order to have income forever as calculated in part b? d) If over your working career you can make 6%/yr return and given the value needed in savings, calculated in part "c", what percent of your income should you put away cach year in order to retire with sufficient savings (amount calculated in part "c)? Remember, your income changes each year as calculated in part a. Goal Seek is one way to calculate this. 2) a) You just got a job making $80,000/year. If your income increases at a rate of 2%/year, how much will you be making during the last year before retirement in 40 years? b) When you retire in 40 years, you would like your retirement income to be 80% of the amount that you made during the last year of your employment (calculated in part "a" above). How much will this be? c) If you can make 6% interest on your investments, what amount do you need in the bank when you retire in order to have income forever as calculated in part b? d) If over your working career you can make 6%/yr return and given the value needed in savings, calculated in part "c", what percent of your income should you put away cach year in order to retire with sufficient savings (amount calculated in part "c)? Remember, your income changes each year as calculated in part a. Goal Seek is one way to calculate this