Note: Can only upload $1$ image at a time. Exhibit $1-$A is $8$ years at $3\%=1\mathrm{.}267$ and $1-$B is $30$ years at $2\%=40\mathrm{.}568$Jamie Lee and Hoss, now $57$ and still very actwve, have plenty of time on their hands now that the triplets are awray at

college. They both reallzed that time has just flown by; cwer twenty$-$four yoars have passed since they married!

Looking back over the past years, they realized that they have worked hard in their careers, Jamie Lee as the preprietor of

a cupcake cafe and Ross, self$-$employed as a web$-$page designer. They have enjoyed raising their family and strived to be

financially sound as they are looking to retirement that is just around the comer. They saved regularly and invested wisely

aver the years. They rebounded nicely from the economic crisis over the past few years, as they watched their

imvestments dosely and adjusted their strategies when they felt it necessary. They purchase vehicles with cash and do

not carry credit card balances, choosing instead to use them for convenience only. The triplets are pursuing their master's

degrees and have bution covered through work$/$study programs at the university.

Jamie Lee and Ross are just a few short years from realizing their poals of retiring at $65$ and purchasing a home at the

beach!

They are reviewing their financial situation to ensure they will be ready for retirement. They anticipate being able to live

comfortably with g$0\%$s of their current expenses. The rate of return on their investments until they retire is $3\%.$ They expect

this percentoge to drop to $2\%$ after retirement. Use this information, along with Exhibit $1-$A$.$ Exbibit $1-8,$ and the information

provided below to determine the annual deposit amount Jamie Lee and Ross will need to make untit they retire in order to

make up the shortfall between their estimated expenses and income needed during retirement. Each answer must have a

value for the assignment to be complete. Enter $"0"$ for any unused ceategories.

Current Erpense Amounts Uamie Lee and Ross Combined

Fived expenses: $$4,\frac{600}{?}$ month

Variable expenses: $$2,\frac{500}{?}$ month

Fstimated Income Amounts $($Jemie Lee and Ross Combined$)$

Social Security: $$2,\frac{650}{?}$ month

Current IRA belance: $$84,000$

Estimated IRA withdrawal: $$300$ imonth

Other investments: $$34,400$ year

Assessment Tool iFrame Tetirement Living Expenses

Estimated annual living expenses if retiring today

Number of years until retirement

Expected annual rate of return before retirement

Future value $($use Exhibit $1-$A$)$

Projected annual retirement living expenses, adjusted for inflation

Estimated Annual Income at Retirement

Social Security income

Company pension, personal retirement account income

Investment and other income

Total retirement income

Annual shortfall of income after retirement $($A $-$ B$)$

$($B$)$

$($A$)$

$($A$)$

$ $107,948$

Expected years in retirement

Expected annual rate of return before retirement

Expected annual rate of return on invested funds after retirement

Future value factor for a series of deposits $($use Exhbit $1-$B$)$

Annual deposit required to accumulate the amount needed

$($C$)$

$($D$)$

$40\mathrm{.}568$