Question
Brock currently earns $120,000 per year. He would like to retire in 16 years (his full retirement age (FRA)) with a wage replacement rate (wrr)
Brock currently earns $120,000 per year. He would like to retire in 16 years (his full retirement age (FRA)) with a wage replacement rate (wrr) of 75%.He expects social security to pay $24,000 in today's dollar. inflation is expected to be 2.5%
What is th value of his desired retirement income at (FRA)?
Please answer to the nearest dollar.Please do not include the "$"
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
9th Edition
032431986X, 9780324319866
