You have decided that in order to have a comfortable retirement you will need to replace $65,000 in income each year in retirement. Assuming you will need 20 years of retirement income and an inflation rate of 3.5%, how much will you need to have saved up in order to meet your goal on the day you retire?

Answer rating: 100% (QA)

To solve this problem we need to find the future value of the requ... View the full answer