(a) To calculate:
The annual needs of A & Y after retirement.
Introduction:
Annual needs means the amounts needs to spent on current expenses of the individual. An individual not only think for the present need but also consider the future needs and that is the reason they invest amount in retirement plans.
(b) To calculate:
The projected annual income shortfall in today’s dollars.
(c) To calculate:
The
(d) To calculate:
The annual investment needs to fulfill the retirement goals.
Introduction:
Annual investment is the amount kept aside by the individual that is used in the future as retirement benefit. As after the retirement the source of income is not the salary so the individual has to save annually for the future.
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Personal Finance: Turning Money into Wealth, Student Value Edition, Plus MyLab Finance -- Access Card Package (7th Edition)
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