Question
Oliver is 45 years old and earns an annual salary of $95,000. He saves 18% of his income for retirement. Oliver expects to have
Oliver is 45 years old and earns an annual salary of $95,000. He saves 18% of his income for retirement. Oliver expects to have his mortgage fully paid off before he retires. His monthly mortgage payment is $1,750, which will be paid off before retirement. Calculate Oliver's wage replacement ratio using the top-down approach (rounded to the nearest percentage) with the assumption that he wants to maintain his current lifestyle.
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
5th Edition
0135811600, 978-0135811603
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