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Anne-Marie and Yancy calculate their current living expenditures to be $65,000 a year. During retirement they plan to take one cruise a year that will
Anne-Marie and Yancy calculate their current living expenditures to be $65,000 a year. During retirement they plan to take one cruise a year that will cost $5,000 intoday's dollars.Anne-Marie estimated that their average tax rate in retirement would be 18 percent. Yancy estimated their Social Security income to be about $21,283 and their retirement benefits are approximately $32,371.
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- Assuming a nominal rate of return of 9 percent and 20 years inretirement, calculate their necessary annual investment to reach their retirement goals.
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