Question: 5. Mrs. Bouchard is trying to decide when to retire. Her social security benefits will be $1,500 per month in retirement. Let's suppose that she

5. Mrs. Bouchard is trying to decide when to retire. Her

5. Mrs. Bouchard is trying to decide when to retire. Her social security benefits will be $1,500 per month in retirement. Let's suppose that she could start receiving these benefits today. How much would she need to have saved up in order to receive a monthly income of $4,000? Use an inflation-adjusted discount rate of 13% and assume that she needs this monthly income for the next 35 years N 1/Y PV PMT FV How much will she need to have saved without her social security? N 1/Y PV PMT FV

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