N3

Your father is 50 years ald and will retire in 10 yoars. He expects to twe for 25 years after he retires, imtil he is 85 . He wants a fceed retrenent income thit has the same purchasing power at the time he retires as 535,000 has today. (The real value of his retirement income wal decine annually after he retires.) this ceerement income mit bepan the doy he refires, 16 yrars from today, at must he save durng each of the next 10 years (end - of-vear deposis) to eneet his recirement ghap De noc found intermedate calculahoms. Found vour anawer to the nearest dolli 5