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Peter and Blair recently reviewed their future retirement income and expense projections. They hope to retire in 3 2 years and anticipate they will need
Peter and Blair recently reviewed their future retirement income and expense projections. They hope to retire in years and anticipate they will need funding for an additional years. They determined that they would have a retirement income of $ comma in today's dollars but that they would actually need $ comma in retirement incomein today's dollars to meet all of their objectives.
a Their annual shortfall at retirement assuming inflation of percent per year is $
b Assuming percent inflation and a rate of return of percent the additional amount they must have accumulated to fund their retirement needs at the time that they retire is $
c The additional amount that Peter and Blair must save each year for the next years if they wish to completely fund their income shortfall is $
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