Question: Robert has determined he will need $80,000 at the beginning of each year after he retires. He expects to earn 5.0% on his funds after

Robert has determined he will need $80,000 at the beginning of each year after he retires. He expects to earn 5.0% on his funds after retirement, In addition, he wishes to leave $100,000 to the local Humane Society upon his death which will occur 25 years after he retires. Robert will wok for 45 years before he retires. During his working years, robert will earn 10% on his investments.

1. Calculate the total funds Robert must have on the day he retires in order to meet his financial goals.

2. Calculate the monthly investment that Robert must make to meet his goals.

3. Imagine that Robert has $5,000 that he can invest today to start off his retirement fund. How much must he now save every month?

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