You have just finished helping John and Mary complete a retirement budget for expenses in 10 years time. If, in todays' dollars it would cost them $50,000 to live (please ignore income tax) and the inflation rate is expected to be 3% for the next 10 years, how much is it going to cost them to live the first year they retire?

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To calculate the cost of living for John and Mary in the f... View the full answer