Instructions Show Michael has just turned 25 and has a job that pays $45,000 a year. He has decided to invest 10% of his salary each year, starting at the end of the upcoming year, until he retires at age 55. - When Michael retires, he wants to provide himself with an income of $50,000 a year until he reaches his expected death at age 80. The first amount will be withdrawn at the end of his 55 th year, and the last amount will be withdrawn at the end of his 80th year. - Michael wants to buy a cottage for $100,000 out of his savings when he turns 40 ( 15 years from today). Any money left over and future savings will go toward his retirement. He expects that he will earn 8%, compounded annually, on any investments he makes between now and age 80 . Required: How much will Michael need the day he retires to ensure his retirement goal