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Required Annuity Payments Asume that your father is now 50 years old, punts to retire...

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Required Annuity Payments Asume that your father is now 50 years old, punts to retire in 10 years, and expects to live for 25 years after he retires that is nie wants his first retirement payment to have the same purchasing power at the time he retires as $60,000 has today. He wants all of a subsequent retirement payments to be equal to his first retirement payment. (DO not let the retirement payments grow with into your father rates that inflation occurs the real value of his retirement income will decine year by year aner here) retirement income will begin the day he retirer 10 years from today, and he will then receive 24 additional annual payments. Inflation is expected to be per year from today forward. He currently has $75,000 saved and expects to cam a return on savings of per year with annual compounding to the nearest how much must be save during each of the next 10 years with equal depobes being made at the end of each year, beginning a year from today) to meet his retirement goal or ether the amount nor the amount he withdraws on retirement growing nuity) Do not round Intermediate cautation Round your answer to the nearest dollar

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