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Peter and Blair recently reviewed their future retirement income and expense projections. They hope to...

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Finance

Peter and Blair recently reviewed their future retirement income and expense projections. They hope to retire in 32 years and anticipate they will need funding for an additional 20 years. They determined that they would have a retirement income of $64 comma 000 in today's dollars, but they would actually need $92 comma 719 in retirement income to meet all of their objectives. Calculate the total amount that Peter and Blair must save if they wish to completely fund their income shortfall, assuming a 3 percent inflation rate and a return of 8 percent. Click on the table icon to view the FVIF table LOADING.... Click on the table icon to view the PVIFA tableLOADING.... The total amount that Peter and Blair must save if they wish to completely fund their income shortfall, assuming a 3 percent inflation rate and a return of 8 percent is $ nothing. (Round to the nearest cent.)

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