Question: please help on hw! ill leave a like! 2. Your client, Laura, has started a new job and is concerned about her retirement. Laura is

please help on hw! ill leave a like!
please help on hw! ill leave a like! 2. Your client, Laura,

2. Your client, Laura, has started a new job and is concerned about her retirement. Laura is 42 years old. Her current salary is $65,000. Assume an 85% Wage Replacement Ratio, an inflation rate of 2.5% and return on investments of 9.50% annually (assume constant throughout Laura's lifetime). Laura would like to retire in 23 years (at age 65) and expects to live to age 95 . Laura currently has $100,000 in her 401k and wants to leave $300,000 to her favorite charity at the end of her life. How much does Laura need to save each year in her 401k to meet her retirement goals? Show all inputs to every step of the problem. (HINT: this is like the long, multi-step problem I did on the white board in class; see the "in class exercises" document titled "advanced" that is posted on canvas)

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