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please show work with fiancial calulator. thank you 11) Brian would like to retire in 10 years when he turns 62. He wants to have
please show work with fiancial calulator. thank you
11) Brian would like to retire in 10 years when he turns 62. He wants to have enough money to replace 60% of his current income less what he expects to receive from Social Security at the beginning of each year. He expects to receive $10,000 per year from Social Security in today's dollars. Brian is conservative and wants to assume an 8% annual investment rate of return and that inflation will be 4% per year. Based on his family history, Brian expects that he will live to be 108 years old. If Brian currently earns $150,000 per year and he expects his salary increases to equal the inflation rate, at retirement he will need Step by Step Solution
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