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You believe you will spend $235,000 a year for 20 years once you retire in 32 years. If the interest rate is 4.00% per year.
| You believe you will spend $235,000 a year for 20 years once you retire in 32 years. If the interest rate is 4.00% per year. (Do not round intermediate calculations. Round your answer to 2 decimal places.) |
| a. How much must you need saved once you reach retirement. | $ |
| b. how much must you save each year until retirement to meet your retirement goal? | $ |
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