Their fund at the time of their retirement

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Reference no: EM131332489

When Steve and Roslyn retire together they wish to receive $40,000 additional income (in the equivalent of today’s dollars) at the beginning of each year. They assume inflation will be 4% and they expect to realize an after tax return of 8%. Based on life expectancies, they estimate their retirement period to be about 30 years. They want to know how much they will need to have in their fund at the time of their retirement.

Reference no: EM131332489

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