Question $71$

$0$ pts

Blake, age $42,$ has come to you for help in planning his retirement. He works for one of the big $8$ accounting firms as a financial planner for their high net worth clients, where he earns $$240,000.$ Bowie would like to retire at age $67.$ He has consistently earned $8\mathrm{.}5\%$ on his investments and inflation has averaged $2\%.$ Assuming he is expected to live until age $93$ and he has a wage replacement ratio of $65\%,$ how much will Bowie need to have accumulated as of the day he retires to adequately provide for his retirement lifestyle?

True

Fatse

Question $72$

$5$ pts

Step $1$: What is the present value of Blake's needs for retirement income?

Step $2$: What is the FV of Blake's retirement income needs when he begins retirement?

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