document.write( "Question 578097: When you retire you will initially require an annual income of 125,000 per year. You anticipate living for 25 years during retirement with an 8% investment return. How much do you need in your pension plans to cover this need? \n" ); document.write( "

Algebra.Com's Answer #370508 by josmiceli(19441) $\"\"$ $\"About$

You can put this solution on YOUR website!
This is my guess:
\n" ); document.write( "You have $\"+x+\"$ amount per year in the pension plan
\n" ); document.write( "You make $\"+.08x+\"$ per year investment return per year
\n" ); document.write( "---------
\n" ); document.write( "For each year,
\n" ); document.write( " $\"+x+%2B+.08x+=+125000+\"$
\n" ); document.write( " $\"+1.08x+=+125000+\"$
\n" ); document.write( " $\"+x+=+125000%2F1.08+\"$
\n" ); document.write( " $\"+x+=+115740.74+\"$
\n" ); document.write( "For 25 years,
\n" ); document.write( " $\"+25%2A115740.74+=+2893518.5+\"$
\n" ); document.write( "You need $2,893,518.50 in the pension plan.
\n" ); document.write( "That's my guess, you might want a 2nd opinion, too \n" ); document.write( "

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