Let's say Destiny is 50 years old right now and would like to retire in 10 years from now. She plans to live for 25 years after she retires, until she is 85 years old. Destiny would like to have a fixed retirement income that has the same purchasing power at the time she retires as $55,000 has currently. Her retirement income will begin the day she retires, 10 years from today, at which time she will receive another 24 additional annual payments. Annual inflation is expected to be 4%. She currently has $130,000 saved her in account in Florida and plans to earn 10% annually on her savings.

How much must she save during each of her next 10 years (end-of-year deposits) to meet her retirement goal and live a happy life?