Required annuity payments
Retirement income today	$60,000
Years to retirement	10
Years of retirement	25
Inflation rate	5.00%
Savings	$100,000
Rate of return	8.00%
Calculate value of savings in 10 years:			Formulas
Savings at t = 10			#N/A
Calculate value of fixed retirement income in 10 years:
Retirement income at t = 10			#N/A
Calculate value of 25 beginning-of-year retirement payments at t =10:
Retirement payments at t = 10			#N/A
Calculate net amount needed at t = 10:
Value of retirement payments			#N/A
Value of savings			#N/A
Net amount needed			#N/A
Calculate annual savings needed for next 10 years:
Annual savings needed for retirement			#N/A