Question
Must show work! A person plans on needing $35,000 per year (in today's dollars) during their expected 20 year retirement. They think that they can
Must show work!
A person plans on needing $35,000 per year (in today's dollars) during their expected 20 year retirement. They think that they can earn 6.5% per year on their investments during retirement. They would need ________________ when they retire. If they can earn 9% per year on their investments as they are saving for retirement, they would need to save ________________ each year over the 35 years that they have remaining before they plan to retire. But, if they waited for 15 years to start saving for retirement, they would need to save _________________ each year to accomplish the same goal.
$385,647.75; $1,787.80; $7,538.05 |
$375,639.21; $1,787.80; $8,432.71 |
$385,647.75; $3,109.19; $9,932.90 |
$361,542.32; $2,466.09; $6,593.57 |
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