You are worried that your retirement income will not be enough. You plan to

retire in $35$ years and, at that time, you want to start receiving $$10,000$ per year for $20$ years in

addition to your pension and Social Security.

$$ What amount will you need at t$35$ to produce the $$10,000$ per year annuity?

$$ What is the PV of that figure at t$0?$

$$ Use a $7\%$ discount rate.

$$ How much would you have to save each year to reach this goal?