Question: Martha has estimated that she would need $ 3 5 , 0 0 0 per year ( in today's $ terms ) to live on

Martha has estimated that she would need $35,000 per year (in today's $ terms) to live on in retirement. She will be retiring in 30 years and is funding for a 23-years retirement period. The inflation rate is expected to be 2% per year and the after-tax return on her investments is expected to be 5.5%. Calculate the amount she should save every year starting today in her retirement account to fund her post retirement period.
Group of answer choices
$13,769
$12,049
$15,489
$14,241

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