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Jasmine is 53-years old and earns $115,000 a year. She saves 12% of her annual gross income for retirement. Jasmine will pay off her mortgage
Jasmine is 53-years old and earns $115,000 a year. She saves 12% of her annual gross income for retirement. Jasmine will pay off her mortgage by the time she retires. Her monthly payment is $1,950.21. Calculate Jasmine's wage replacement ratio using the top-down approach (round to the nearest %) and using pre-tax dollars. Assume that she wants to maintain her lifestyle.
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