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How much is it will they need

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-Maria and Paul complete a retiring in 10 years. If they retired today it would cost them $68,500 per year to be able to cover their annual retirement expenses. The inflation rate is expected to be 2.5% for the next 10 years. How much is it will they need to cover their expenses the first year they retire?

-Once they retire, Maria and Paul want to plan for 30 years of retirement. If we assume an interest rate of 3% on their investments once they retire will be 3% how much will they need to have saved once they retire to ensure they have enough money to last for the rest of their planned lives?

Reference no: EM132982117

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