Assume that your father is now 5 0 years old, plans to retire in 1 0 years,
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Question:
Assume that your father is now years old, plans to retire in years, and expects to live for years after he retires that is until age He wants his first retirement payment to have the same purchasing power at the time he retires as $ has today. He wants all his subsequent retirement payments to be equal to his first retirement payment. Do not let the retirement payments grow with inflation: Your father realizes that if inflation occurs the real value of his retirement income will decline year by year after he retires His retirement income will begin the day he retires, years from today, and he will then receive additional annual payments. Inflation is expected to be per year from today forward. He currently has $ saved and expects to earn a return on his savings of per year with annual compounding.
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