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Question 1 1 pts Mr. X plans to retire at age 58, and he believes that he can live comfortably with an annual pension
Question 1 1 pts Mr. X plans to retire at age 58, and he believes that he can live comfortably with an annual pension of $97,000, to be withdrawn at the beginning of each year in his retirement. Suppose his pension account will generate 9.7% of annual interest rate, and suppose Mr. X believes that he will live to 99. In order to have sufficient money for his retirement, what is the minimum amount that Mr. X must have saved up in his pension account at the time of his retirement at age 58? Answer: $ comma in your answer.) . (Round to two decimal places. Don't use dollar sign or
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