How much money will he spend that first year

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Reference no: EM131813731

A- John is 45 years old. He currently makes $80K per year. If he expects his salary to increase by 3% per year, what would his salary be when he retires at 65.

B- If John spends 80% of his final salary in the first year of retirement, how much money will he spend that first year?

C- John currently has $90K saved. If he saves 5% of his salary and earns 8%. How much money will he have when he retires at 65?

D- What if he saves 10% and earns 12%?

E- John currently has $90K saved. If he saves 5% of his salary and earns 8%. How much money will he have when he retires at 72?

Reference no: EM131813731

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