If you expect to retire in 30 years, live on $50,000 per year and expect the inflation to average 3% over the next 30 years, what amount of annual income will you need to live at the same comfort level in 30 years? O a. $$95,000 O b. $121,363 O c. $51,500 O d. $20,599

If you expect to retire in 30 years, live on $50,000 per year and expect the inflation to average 3% over the next 30 years, what amount of annual income will you need to live at the same comfort level in 30 years? O a. $$95,000 O b. $121,363 O c. $51,500 O d. $20,599

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 8E

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Question

If you expect to retire in 30 years, live on $50,000 per year and expect the inflation
to average 3% over the next 30 years, what amount of annual income will you need
to live at the same comfort level in 30 years?
ut of
O a. $$95,000
uestion
O b. $121,363
O c. $51,500
O d. $20,599

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