estion 15 1 points Save Answer Carolyn and Jim are planning on retiring next year when they turn 65. They estimate that they will need $80,546 per year when they retire to cover their expenses, travel and taxes. They will need this income each year until they die at age 95. They are currently earning a rate of return of 5% on their investments and the rate of inflation is 2%. What amount of money will they need when they retire next year to fund their retirement? Hint: Round your answer to the nearest dollar.