Suppose that Charles is $45$ years old and has no retirement savings. He wants to begin saving for retirement, with the first payment coming one year from now. He can save $$25,000$ per year and will Invest that amount in the stock market, where it is expected to yield an average annual return of $8\mathrm{.}00\%$ return. Assume that this rate will be constant for the rest of his's life.

Cherles would tike to calculate how much money he will have at age $60.$

Using a financial calculator yields a future value of this ordinary annuity to be approximately at age $60.$

Charles would now like to calculate how much money he will have at age $65.$

Uning a finencial calculator ylelds a future value of this ordinary annuity to be approximately at age $65.$

Charlies expects to live for another $30$ years if he retires at age $60,$ with the same expected percent return on Investments in the stock market.

Using a finandal calculater, you can calculate that Charles can withdraw at the end of each year after retirement $($assuming redirement at age $60).$ assuming a fixed withdrawal each vear and $$0$ remaining at the end of his life.

Charies enpects to live for another $25$ years if he retires at age $65,$ with the same expected percent return on investments in the stock market.

Uaing a financial calculator, you can calculate that Charles can withdraw at the end of each year after retirement at age $65,$