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Agnes is 40 years old She wants to know how much she should be saving each year for retirement. Below are the specifics. - She

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Agnes is 40 years old She wants to know how much she should be saving each year for retirement. Below are the specifics. - She wants 10 retire at 60 and expects to live until she's 90 - She currently makes $45,000 and expects that to increase each year with infiation. She thinks she will need about 70\%s of that to tive on in retirement. - She has $40,000 in an RRSP - Her investments are eaming a real rate of 6 s return before retirement. - When she retires she will move her investments into a more conservative portfolio and earn 3 . per year. - She expects that CPP Wil be about $15,000 per year in todoy's dollars CPP amount is infiation adjusted Given this information, how much will she have saved when she is 60 (in real doliars)

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