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Peter and Blair recently reviewed their future retirement incomeand expense projections. They hope to retire in 32 years andanticipate they will need funding for an additional 23 years. Theydetermined that they would have a retirement income of ?$73,000 in?today's dollars, but they would actually need ?$104,631 inretirement income to meet all of their objectives. Calculate thetotal amount that Peter and Blair must save if they wish tocompletely fund their income? shortfall, assuming a 3 percentinflation rate and a return of 8 percent.The total amount that Peter and Blair must save if they wish tocompletely fund their income? shortfall, assuming a 3 percentinflation rate and a return of 8 percent is
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