a world without inflation. Mr. Littlewood, 35, plans to retire at age ar. Subsequent retirement expenses will grow at a rate of 3% pa, pay- account and plans to invest an equal amount annually for his retirement. The (b) What is the annual investment that he must make in order to reach his 5. Ass ume 60. His life expectancy is age 87. He wants to live a retirement lifestyle that will cost $30,000 in the first year of retirement, payable at the beginning of rate of interest that he expects to earn is 5%. (a) What is the amount that he will need at retirement? goal in (a)