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P 1-6 (LO 1.5) The recommended level of... The recommended level of retirement savings an individual should have saved at each age is as follows:
P 1-6 (LO 1.5) The recommended level of... The recommended level of retirement savings an individual should have saved at each age is as follows: a. At age \\( 30: 1 X \\) income at age 30 b. At age 40: \\( 3 X \\) income at age 40 c. At age 50: \\( 5 X \\) income at age 50 d. At age 70: \\( 7 X \\) income at age 70 Required: Bob makes \\( \\$ 90,000 \\) a year in income at age 50 , and his salary is growing at 5 percent per year. He currently has retirement savings of \\( \\$ 400,000 \\). He wants to know if he will have enough income to retire at age 70 . Bob could ask the below questions regarding his retirement savings and for each of these questions, determine which type of analytics might address it
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