Question 4 Sally Mander is planning on retiring in 20 years and she believes that she will live for 25 years after she retires. Sally would like to set up a retirement plan that will pay her $90,000 annually for 25 years. Assuming 9% interest over the next 20 years that she is working, and 6% interest after she retires, how much will Sally need to save annually over the next 20 years?

Question 4 Sally Mander is planning on retiring in 20 years and she believes that she will live for 25 years after she retires. Sally would like to set up a retirement plan that will pay her $90,000 annually for 25 years. Assuming 9% interest over the next 20 years that she is working, and 6% interest after she retires, how much will Sally need to save annually over the next 20 years