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Use the following information to answer the next THREE (3) questions. Ashley would like to retire in 10 years when she turns 62. Based on
Use the following information to answer the next THREE (3) questions. Ashley would like to retire in 10 years when she turns 62. Based on her family history, she expects that she will live to be 99 years old. She would like to have enough money to replace 60% of her current income. Ashely currently earns $150,000 per year and expects to receive $10,000 per year from Social Security in today's dollars. The two of you have agreed to assume an 8% annual investment rate of return before retirement, an 8% annual investment rate of return during retirement, and that inflation will average 3% annually. Question 18 What is the total gross annual amount from ALL income sources in TODAY's dollars that Ashley needs in retirement? O $100,000 $80,000 $90,000 2 pts O $84,000
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