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Question 3 3 pts You hope to retire in 21 years. When you do, you would like to have the purchasing power of $171.927 today,

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Question 3 3 pts You hope to retire in 21 years. When you do, you would like to have the purchasing power of $171.927 today, during each year of retirement. Your cash is needed at the beginning of each year of retirement. Inflation is expected to be 3% per year from now until the end of your retirement. Your retirement will last 29 years. You expect your 401K to earn 6 % per year during your retirement years. How much money do you need at the beginning of your retirement years, to "just meet" your retirement needs? (Round your answer to three decimal places. For example 1.23450 or 1.23463 will be rounded to 1.235 while 1.23448 will be rounded to 1.234)

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