Maria estimates she will need $35,000 per year in retirement.  Social Security will pay $12,000 per year, so her savings must generate $23,000 per year for 20 years after she retires at age 67, based on actuarial tables for life expectancy.  If the return on savings is zero, how much does she need at age 67?  

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Solution 23000 x 20 ... View the full answer