) if you expect to retire in 30 years, are currently comfortable living on $50,000 per year and expect inflation to average 3% over the next 30 years, what amount of annual income will you need to live at the same comfort level in 30 years?
Use the formula of compound interest which is A= P (1 + r)^n A future value (amount of annual income) ? P present value 50000 R rate of inflation 0.03 N time 30 years
