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Remaining Time: 18 minutes, 01 second. Question Completion Status: 1 points Save Answer Financial Calculator Section The following question(s) may require the use of a

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Remaining Time: 18 minutes, 01 second. Question Completion Status: 1 points Save Answer Financial Calculator Section The following question(s) may require the use of a financial calculator. Your father, who is 60. plans to retire in 2 years, and he expects to live independently for 3 years. Suppose your father wants to have a real income of $40,000 in today's dollars in each year after he retires. His retirement income will start the day he retires, 2 years from today, and he will receive a total of 3 retirement payments. Inflation is expected to be constant at 5 percent. Your father has $100.000 in savings now, and he can earn 8 percent on savings now and in the future. How much must he save each year, starting today, to meet his retirement goals? a. 55,350 b.56,102 O c $2,716 d. $1,863 e. $2,034 9:- D > % 10/0 0 8

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