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You would like to retire at the age of 55 . You will start saving when you are 25 which is the age that you

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You would like to retire at the age of 55 . You will start saving when you are 25 which is the age that you are expecting to start working full time. You expect to live until the age of 90 . You are planning to spend $8800 per month at the retirement. You think you can eam 9.5 percent (APR) real rate of return on your investment for the whole period. How much money do you need to save per month during your working life to be able to spend $8800 during your retirement? Assume that your current savings is $0 and you will bequest $100,000 to your heirs. 752.14 525.68 423.33 528.62

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