Homework: Chapter 4. Learning Objective 3. Topic Homework 1Save ! Score: 0 of 1 pt 2 of 2 (2 complete) HW Score: 50%, 1 of 2 pts X Problem 4.LO3.10 (similar to) Question Help You are trying to decide how much money you will need at retirement. You expect to retire at age 65. You hope to travel extensively while you are healthy enough. To finance your travels and cover your basie living expenses) you think you will need income or S204,000 per year at the end of each year). You will make your first withdrawal on your 66th birthday. You expect to stay healthy enough for travel for the first 12 years after retirement and thus make a withdrawal of $204,000 at the end of each of those 12 years. Once your active travel years are over you will settle down into a retirement home. During your retirement home years you will only need $185,000 in income per year. You expect to live in the retirement home for 5 years. You will make the first retirement home withdrawal 13 years after retirement and all subsequent withdrawals will continue to be at year-end. If retirement savings will cam a return of 8%, then how much will you need at retirement to fund these planned withdrawals? How much will you need at retirement to fund these planned withdrawals? SI (Round to the nearest cent.) Enter your answer in the answer box and then click Check Answer Clear All All parts showing Check Answ Privacy POST Permissions to