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

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Peter and Blair recently reviewed their future retirement incomeand expense projections. They hope to retire in 32 years andanticipate they will need funding for an additional 23 years. Theydetermined that they would have a retirement income of ?$73,000 in?today's dollars, but they would actually need ?$104,631 inretirement income to meet all of their objectives. Calculate thetotal amount that Peter and Blair must save if they wish tocompletely fund their income? shortfall, assuming a 3 percentinflation rate and a return of 8 percent.
The total amount that Peter and Blair must save if they wish tocompletely fund their income? shortfall, assuming a 3 percentinflation rate and a return of 8 percent is

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The amount that Peter and Blair need to save today is3578199Peter and Blairs income shortfall is 104631 73000 31631This is the income they will need after the first year of theirretirement However since the inflation rate is 3 this figurewill See Answer

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Peter and Blair recently reviewed their future retirement incomeand expense projections. They hope to retire in 32 years andanticipate they will need funding for an additional 23 years. Theydetermined that they would have a retirement income of ?$73,000 in?today's dollars, but they would actually need ?$104,631 inretirement income to meet all of their objectives. Calculate thetotal amount that Peter and Blair must save if they wish tocompletely fund their income? shortfall, assuming a 3 percentinflation rate and a return of 8 percent.The total amount that Peter and Blair must save if they wish tocompletely fund their income? shortfall, assuming a 3 percentinflation rate and a return of 8 percent is