The percent is 5.5%

QUESTION 32 Assume that you have 40 years until retirement and have just started your first job. Once you retire, you anticipate that you will live for 30 additional years. Assume that you will require $100,000 per year to support yourself in retirement. All investments that you make i however much you have at retireme at in that account and continue to accrue interest on the r the next 40 years to meet your goal? Assume that your first investment occurs at the end of your first year o on the last day that you are employed (yr 40). For simplicity, assume that your first withdrawal is at the end of your first retirement year (41) into and stay in an account that retums 5.5% per year (e sining balance) How much will you have to save each year over work (y and that the last of your 40 investments occurs