equired annuity payments Your father is 50 years old and

Last updated: 6/13/2023

equired annuity payments Your father is 50 years old and will retire in 10 years He expects to live for 25 years after he retires until he is 85 He wants a fixed retirement income that has the same purchasing power at the time he retires as 45 000 has today The real value of his retirement income will decline annually after he retires His retirement income will begin the day he retires 10 years from today at which time he will receive 24 additional annual payments Annual inflation is expected to be 3 He currently has 250 000 saved and he expects to earn 8 annually on his savings The data has been collected in the Microsoft Excel Online file below Open the spreadsheet and perform the required analysis to answer the question below X Open spreadsheet How much must he save during each of the next 10 years end of year deposits to meet his retirement goal Do not round your intermediate calculations Round your answer to the nearest cent