Your retired client has accumulated investment and retirement assets totaling $6,847,000. Assume the client expects...
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Your retired client has accumulated investment and retirement assets totaling $6,847,000. Assume the client expects to live for another 18 years and that he assumes an annual inflation rate of 2.0 percent. To leave his heirs the future value of the $6,847,000 at the end of the 18 years, and maintain an inflation-adjusted lifestyle of $235,000 a year for all 18 years, the clients investments would have to earn an average of ______ percent a year for the entire 18 years. Round the answer to two decimal places in percentage form. Please write your answer in "Your Answer" box.
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