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You are trying to calculate how much money you should have at retirement. On your 55th birthday you will retire and immediately make your first

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You are trying to calculate how much money you should have at retirement. On your 55th birthday you will retire and immediately make your first withdrawal of $461538. You plan to make 26 such withdrawals each year. You plan to continue withdrawing at that level and frequency until you are 90 years old (Assume beginning of period withdrawals with the first withdrawal on your retirement date and no withdrawal on your final birthday) During retirement, your savings will eam only 3.5 per amun How much do you have to have saved at retirement to find these planned withdrawals? SIS X (Calculate to two decimal placus.) Calculate the present value of a perpetuity with annual payments of $22,000. Use an interest rate of 9% and assume that the first payment occurs immediately $| 27500000 X (Calculate to two decimal places.)

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