Generate an annual cash flow of $55,000 a year for 25 year, as retirement income. You currently have no retirement savings but plan to save an equal amount each year for the next 38 years until your retirement. How much do you need to save each year if you can earn 7.5 percent on your savings? $3, 146.32 $2, 640.85 $2, 889.04 $3.333 33 $3, 406.16