Question 12 Multiple Choice Worth 4 points)
(Planning for Retirement LC)
A software developer's current annual gross wage is $93,400. For retirement, the developer wants to have enough saved to live off
80% of the current annual gross wage and draw 4% the first year. What is the total amount the developer will need in retirement
savings to meet their retirement income goal?
O$1,868,000
O$1,688,000
O$1,088,600
P
O$1,068,800