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will rate the answer 2. Your client, Robert, has started a new job and is concerned about his retirement. Robert is 44 years old. His
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2. Your client, Robert, has started a new job and is concerned about his retirement. Robert is 44 years old. His current salary is $75,000. Assume a 90% Wage Replacement Rate, an inflation rate of 2.0% and return on investments of 9.00% annually (assume constant throughout Robert's lifetime). Robert would like to retire in 21 years (at age 65) and expects to live to age 87 . Robert currently has $150,000 in his 401k and wants to leave $200,000 to his favorite charity at the end of his life. How much does Robert need to save each year in order to meet his retirement goals? Show all of your inputs to each part of the problem. (HINT: This is like the four-part problems from the "Advanced" version of the CH2 Homework) Step by Step Solution
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