CRPC Practice Ex
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CRPC Practice Ex 1
Último contenido CRPC Practice Ex
1. Richard wants to have an 
annual retirement income 
of $100,000 (payable at the 
beginning of each year) 
protected against 3% infla 
tion. Assuming a 7% af 
ter-tax rate of return and 
a retirement period of 30 
years, how much mon 
ey (rounded) does Richard 
need in order to meet his 
goal? 
B) 
$1,822,043 
To determine how much money Richard needs, 
calculate the inflation-adjusted rate of return: 
(1.07 1.03) - 1 100 = 3.8835. Next, clear your 
calculator and set it to be...
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CRPC Practice Ex•CRPC Practice Ex
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1. Richard wants to have an 
annual retirement income 
of $100,000 (payable at the 
beginning of each year) 
protected against 3% infla 
tion. Assuming a 7% af 
ter-tax rate of return and 
a retirement period of 30 
years, how much mon 
ey (rounded) does Richard 
need in order to meet his 
goal? 
B) 
$1,822,043 
To determine how much money Richard needs, 
calculate the inflation-adjusted rate of return: 
(1.07 1.03) - 1 100 = 3.8835. Next, clear your 
calculator and set it to be...