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Intermediate corporate FINA Scott Burns of the Dallas Morning News recently wrote on the amount of wealth it takes to provide a certain level of

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Scott Burns of the Dallas Morning News recently wrote on the amount of wealth it takes to provide a certain level of income. Assume that you want to live on the 75th percentile of earnings (About $72000 a year) when you enter your retirement. How much wealth much you accumulate if you can eam 5% on your investments and you plan to live for 30 years in retirement? (How much do you need to fund a $72000 annual annuity?) (round to the penny)

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