题目内容
A woman is using the following information to plan her retirement: current age (years) 24 expected retirement age (years) 68 life expectancy (years) 93 current annual expenditures $30000 expected inflation rate until retirement 3% expected return on investment 8% She assumes her consumption expenditures will increase with the rate of inflation, 3 percent, until she retires. Upon retiring she will have end-of-year expenditures equal to her consumption expenditure at age 68. The minimum amount that she must accumulate by age 68 in order to fund her retirement is closest to:
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