1 The Hopeful family is ready to start investing for their retirement. Amara has finished her Master's Degree in Finance and together, she and Samkelo determine that they need to prepare, even though they are young, for the future when they will retire. Follow the information below and prepare the worksheet on the tab "Retirement Income Projection." 2 Samkelo and Amara now have relatively good income and earn together $100,000/year. They believe that in retirement, they will be able to live on $75,000/year. 3 The inflation rate is 3%. 4 Samkelo and Amara are now 28 years old and plan on retiring at age 65. 5 The Hopefuls feel that they need to provide for 25 years of retirement. 6 Using the above information calculate the following (using formulas if necessary): a. Present desired annual income (A) b. Desired retirement annual income (B) c. Annual Income adjusted for inflation (C) d. Determine the amount of money that will need to have in personal savings (D) e. Determine the total fund required (E) f. Determine the monthly amount that the Hopefuls will need to save while they are working .

Answer rating: 100% (QA)

To calculate the values requested lets follow the given information step by step a Present desired annual income A The present desired annual income r... View the full answer