Question
Your retired client has accumulated investment and retirement assets totaling $4,241,000. Assume the client expects to live for another 28 years and that he assumes
Your retired client has accumulated investment and retirement assets totaling $4,241,000. Assume the client expects to live for another 28 years and that he assumes an annual inflation rate of 4.4 percent. To leave his heirs the future value of the $4,241,000 at the end of the 28 years, and maintain an inflation-adjusted lifestyle of $200,000 a year for all 28 years, the clients investments would have to earn an average of ______ percent a year for the entire 28 years. Round the answer to two decimal places in percentage form. Please write your answer in "Your Answer" box. Write the % sign in the Units box. Your Answer:
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