Nicci Denny, age $42,$ single and from Lansing, Michigan, is trying to estimate the amount she needs to save annually to meet her retirement needs. Nicci currently earns $$80,000$ per year. She expects to need $90\%$ of her current salary to live on it retirement. Nikki anticipates receiving about $$2450$ per month in Social Security benefits at age $67.$ Question $15$ pts

What annual income would Nicci need for retirement?

Group of answer choices

$$72,000$

$$62,000$

$$52,000$

$$42,000$

not enough information to calculate an answer

Flag question: Question $2$

Question $25$ pts

What would her annual expected Social Security benefit be$?$

Group of answer choices

$$39,400$

$$29,400$

$$19,400$

$$10,400$

not enough information to calculate an answer

Flag question: Question $3$

Question $35$ pts

Nicci expects to receive $$1500$ per month from her defined pension as work. What is her annual benefit?

Group of answer choices

$$20,000$

$$19,000$

$$18,000$

$$17,000$

$$16,000$

Flag question: Question $4$

Question $45$ pts

How much annual retirement income will she need from her retirement funds?

Group of answer choices

$$24,600$

$$34,600$

$$44,600$

$$54,600$

not enough information to calculate an answer

Flag question: Question $5$

Question $55$ pts

How much will Nicci need to save by retirement in today's dollars if she plans to retire at age $65$ and live to age $90?($assume $3\%$ return$)$

Group of answer choices

$$428,362$

$$328,362$

$$228,362$

$$128,362$

not enough information to calculate an answer

Flag question: Question $6$

Question $65$ pts

Nicci currently has $$15,000$ in a traditional IRA. Assuming a growth rate of $8$ percent, what will be the value of her IRA when she retires?

Group of answer choices

$$102,727$

$$202,727$

$$302,727$

$$402,727$

not enough information to calculate an answer

Flag question: Question $7$

Question $75$ pts

How much additional money will she still need to save for retirement?

Group of answer choices

$$125,635$

$$325,635$

$$425,635$

$$99,798$

not enough information to calculate an answer

Flag question: Question $8$

Question $85$ pts

What is the amount she needs to save each year to reach this goal? $($use the answer from question $7$ and assume a $3\%$ return rate$)$

Group of answer choices

$$5,934$

$$6,934$

$$7,934$

$$8,934$

not enough information to calculate an answer