$\mathrm{}$ When you retire you want to have enough money in your retirement account to generate an annual income of $$80,000$ per year and you expect to live for $15$ years after you retire. You wont be able to put any more into the account after you retire. If the annual rate of return you expect to earn on the balance in the account is $9$ percent, how much will you need to have at the time you retire to make it $15$ years? 

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To calculate how much youll need to have in your retirement account at the time you retire to genera... View the full answer