Super ASAP Please Marco is 50 years old and plans to retire at age 67. He wants you to assume he will be retired for 16 years before he dies. Assume Marco needs $77,706 at the beginning of the first year of retirement. Use an investment return of 7 percent and an inflation assumption of 3 percent. What amount of money will he need to have saved at the beginning of retirement? (Round any interest rate calculations to 4 decimal places e.g. .0125 for 1.25% and round the final answer to 2 decimal places)

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05-10-2022
Business

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Super ASAP Please Marco is 50 years old and plans to retire at age 67. He wants you to assume he will be retired for 16 years before he dies. Assume Marco needs $77,706 at the beginning of the first year of retirement. Use an investment return of 7 percent and an inflation assumption of 3 percent. What amount of money will he need to have saved at the beginning of retirement? (Round any interest rate calculations to 4 decimal places e.g. .0125 for 1.25% and round the final answer to 2 decimal places)

Sagot :

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