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You believe you will need to have saved exist868,000 by the time you retire in 40 years in order to live comfortably. You also believe

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You believe you will need to have saved exist868,000 by the time you retire in 40 years in order to live comfortably. You also believe that you will inherit exist116,000 in 10 years. If the interest rate is 7% per year, what is the future value of your inheritance at retirement? Future value exist How much must you save each year to meet your retirement goal? (Assume you save your entire inheritance. This is the amount needed in addition to the inheritance.) Annual savings required exist

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