Earl, age 52, has come to you for help in planning his retirement. He works for a bank, where he earns $100,000. Bowie would like to retire at age 62. He has consistently earned 7% on his investments and inflation has averaged 4%. Assuming he is expected to live until age 95 and has a wage replacement ratio of 80%, How much must Bowie save at the end of each year, from now until retirement, to provide him with the necessary capital balance, assuming he has a zero balance today?

His WRR is 80,000 so his FV of his capital need in the first year of retirement is 118,418,5428 (I need four decimal places in the answers)

I am having an issue with differing numbers in the PV from the capital balance calculation that I need to feed into the last step.

I have N = (95-62) = 33

i/Y IAR=(1.07/1.04)-1)*100=2.8846

PMT is FV from step one of 118,418.5428

FV = 0

PMT = What I need to be solved to four digits. I keep getting -2,571,190.04196, and the correct answer should be -2,571,184.4867, according to the professor's videos.