Question: Step by step , showing the formula please 8. You want to retire in 20 years, and you would like to support an annual spending

Step by step , showing the formula please

8. You want to retire in 20 years, and you would like to support an annual spending of $80,000. You plan to live 30 years in retirement. Your investment will ear 12% before retirement and 6% in retirement. () How much do you have to save each year? (i) What if you have 30 years to save before retirement? (iii) What if you only have 15 years? 9. You want to retire in 20 years, and you are able to save$8,000 per year before retirement. You plan to live 30 years in retirement. Your investment will ear 12% before retirement and 6% in retirement. (i) (i) (iii) How much will you have for spending each year in retirement? What if you have 30 years to save before retirement? What if you only have 15 years

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