Expected Inflation = Expected Remaining Life in Months at Retirement = Needed per month retirement income. FV 45 years = $8,000 (1. )45 = $8,000( ) = $ Total amount Needed in retirement account one month (month 539) before retirement. 1- (1+ PVAmonth 539 = $ = $ )= $ Premium and price to Insurance Company Price = $ (1.050) = $ Value of Current Savings in 539 months (assuming monthly compounding. FV 539 months = $60,000 (1. 539 = $60,000 ( _)= $ Total New Saving needed by month 539 = Saving Each month for next 539 Months. FVA = A (1 +r ) N -1 (1+0 539 =A/ = $ Then, A = $ = $ per month