This set is a series of calculations with small changes.

Maria estimates she will need $35,000per year in retirement. Social Security will pay $12,000per year,so her savings must generate$23,000 per yearfor 20 years after she retires at age 67, based on actuarial tables for life expectancy. If the return on savings is zero,how muchdoes she need at age 67?

	a.	$460,000
	b.	$300,000
	c.	$3,000,000
	d.	$200,000

5 points

QUESTION 2

Maria has calculated that she needs$500,000 in savingsto fund her retirement at age 67. She is 47now. If there is no return on hersavings, how much does she need to save each year? That is 20 years to save $500,000.

	a.	$25,000
	b.	$12,500
	c.	$10,000
	d.	$50,000

5 points

QUESTION 3

Maria now estimates her savings will earn 5% on average.

Again, she needs $23,000 per year in retirement from her savings. Maria will retire at age 67. She is 47now. How much should she save or invest each year to be sure of having enough to retire?

Use a web calculator. Attach an image of the calculator page. Here is MSn'spage:https://www.msn.com/en-us/money/tools/retirementplanner

The next question is an essay version of the same question.

1. Attach File

QUESTION 4

Maria now estimates her savings will earn 5% on average.

Again, she needs $23,000 per year in retirement from her savings.Maria will retire at age 67. She is 47now. How much should she save or invest each year to be sure of having enough to retire?

QUESTION 5

Same as the previous question but the average return is 7%

Again, she needs $23,000 per year in retirement from her savings.Maria will retire at age 67. She is 47now. How much should she save or invest each year to be sure of having enough to retire?

QUESTION 6

Same as the #3but Maria's starting age is 27.

She estimates her savings will earn 5% on average.

Again, she needs $23,000 per year in retirement from her savings.Maria will retire at age 67. She is 47now. How much should she save or invest each year to be sure of having enough to retire?

QUESTION 7

Same as #3 but plan for a long life,to age 97.

She assumes a return of 5% both before and after retirement.

Again, she needs $23,000 per year in retirement from her savings.Maria will retire at age 67. She is 47now. How much should she save or invest each year to be sure of having enough to retire?