Question: please help me to answer A,B, and C. Thank you Peter and Blair recently reviewed their future retirement income and expense projections. They hope to

please help me to answer A,B, and C. Thank you

please help me to answer A,B, and C. Thank you Peter and

Peter and Blair recently reviewed their future retirement income and expense projections. They hope to retire in 31 years and anticipate they will need funding for an additional 21 years. They determined that they would have a retirement income of $46,000.00 in today's dollars but that they would actually need $64,035.00 in retirement income (in today's dollars) to meet all of their objectives. a. What is their annual shortfall at retirement assuming inflation of 3 percent per year? Click on the table icon to view the FVIF table: b. At the time that they retire, how much additional amount must they have accumulated to fund their retirement needs, assuming 3 percent inflation and a rate of return of 7 percent? Click on the table icon to view the PVIFA table: c.. Calculate the additional amount that Peter and Rlair must save each a. Their annual shortfall at retirement assuming inflation of 3 percent per year is $ (Round to the nearest cent.) Peter and Blair recently reviewed their future retirement income and expense projections. They hope to retire in 31 years and anticipate they will need funding for an additional 21 years. They determined that they would have a retirement income of $46,000.00 in today's dollars but that they would actually need $64,035.00 in retirement income (in today's dollars) to meet all of their objectives. a. What is their annual shortfall at retirement assuming inflation of 3 percent per year? Click on the table icon to view the FVIF table: b. At the time that they retire, how much additional amount must they have accumulated to fund their retirement needs, assuming 3 percent inflation and a rate of return of 7 percent? Click on the table icon to view the PVIFA table: c.. Calculate the additional amount that Peter and Rlair must save each a. Their annual shortfall at retirement assuming inflation of 3 percent per year is $ (Round to the nearest cent.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!