Question
You are 35 years old and are considering your retirement needs. You expect to retire at the age of 65, and your actuarial table suggests
You are 35 years old and are considering your retirement needs. You expect to retire at the age of 65, and your actuarial table suggests that you live to be 100.You want to move to the coastal area of Kenya when retired. You estimate it will cost you sh.300,000 to make the move (on your 65th Birthday and that your living expenses will be sh.30,000 a year (Starting at the end of year 66 and continuing through the end of year 100) after. How much will you need to have saved by your retirement date to be able to afford this course of action. (10mks)
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