50 H. Assume that you are 25 years old now and you plan to retire at the age of 65. You inherited 51 $100,000 which you plan to use as your retirement income. This money is invested in a bank 52 account that is paying 8% annual interest and you plan to keep it there until you retire. You 53 expect to live 20 years after you retire. During the retirement years, you project that you will need 54 $80,000 a year. You will withdraw the first retire-Dent check one year after you retire. How much 55 you will have to save per year from now until you retire to be able to withdraw $80,000 a year 56 during your retirement life? 57