calculate the following:

I. Estimated Household Expenditures in Retirement:

A$.$ Approximate number of years to retirement $10$

B$.$ Current level of annual household expenditures, excluding savings $7680$

C$.$ Estimated household expenses in retirement as a percent of current expenses $80\%$

D$.$ Estimated annual household expenditures in retirement $($B x C$)6144$

II$.$ Estimated Income in Retirement:

E$.$ Social security, annual income $18000$

F$.$ Company$/$employer pension plans, annual amounts $500$

G$.$ Other sources, annual amounts $12000$

H$.$ Total annual income $($E $+$ F $+$ G$)30500$

I. Additional required income, or annual shortfall $($D $-$ H$)-24356$

III. Inflation Factor:

J$.$ Expected average annual rate of inflation over the period to retirement $14\%$

K$.$ Inflation factor $($in Appendix A$)$: $11\mathrm{.}464$

Based on $10$ years to retirement $($A$)$ and an expected average $1\mathrm{.}4$

annual rate of inflation $($J$)$ of $14\%.$

L$.$ Size of inflation$-$adjusted annual shortfall $($I x K$)-279217\mathrm{.}184$

IV$.$ Funding the Shortfall:

M$.$ Anticipated return on assets held after retirement

N$.$ Amount of retirement funds required $-$ size of nest egg $($L $/$ M$)$

O$.$ Expected rate of return on investments prior to retirement

P$.$ Compound interest factor $($in Appendix B$)$:

Based on $\_\_\_\_\_$ years to retirement $($A$)$ and an expected rate of return

investments of $\_\_\_\_\_.$

Q$.$ Annual savings required to fund retirement nest egg $($N $/$ P$)$

Note: Parts I and II are prepared in terms of current $($today$\text{'}$s$)$ dollars.