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Please solve it fast for upvote Only 'e' is required Using the information below, answer the following questions: Annual Retirement Income Need 150,000 Yeals until

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Only 'e' is required

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Using the information below, answer the following questions: Annual Retirement Income Need 150,000 Yeals until Retirement Years in Retirement Expected Inflation Rate 30 35 2.50% a) Rate of Retum before Retirement 8.00% Rate ofReturn during Retirement 5.00% Using equation 8-10 from the book, how much money will you need to have accumulated at the time of retirement to be able to meet your income needs during retirement? b) If you were to make a single lump sum investment today, how much would you need to invest annually to meet your goal at the time of retirement? c) If you were to invest an equal dollar amount each year, how much would you need to invest annually to meet your goal at the time of retirement? d) Assume that your employer will raise your annual wage every year by at least the rate of inflation so that your retirement savings can also increase proportionally. Use equation 8-14 to determine the first required annual mvestment. e) To illustrate the importance of the return on your investment, set up a scenario analysis that shows your investment required today, the annual investment required, and the first annual investment required considering savmgs as graduate annuities. Assume four scenarios where your rate of return before retirement is 7%, 10%, and 15%. How likely do you think it is that you will be able to earn 10% or 150/0 per year on your investments? 'vl'hat do these results suggest to you about the importance of financial literacy ?

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