Business, 19.10.2019 02:00 OwenK97

George and julia anticipate that they will require an annual income of $72,000 (in today's dollars) when they retire 15 years from now. they expect to receive social security benefits of $18,000 per year at that time. in calculating their retirement savings need, the couple is assuming a 3% annual rate of inflation, an 8% return on investments, and a 25-year retirement period. taking social security into consideration, what is the annual retirement income need from savings expressed in future dollars that george and julia will need to fund? (round your answer to the nearest dollar.)

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George and julia anticipate that they will require an annual income of $72,000 (in today's dollars)...

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