单选题
A woman is using the following information to plan her retirement:
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current age (years)
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24
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expected retirement age (years)
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68
|
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life expectancy (years)
|
93
|
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current annual expenditures
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$30000
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|
expected inflation rate until retirement
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3%
|
|
expected return on investment
|
8%
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She assumes her consumption expenditures will increase with the rate of inflation, 3 percent, until she retires. Upon retiring she will have end-of-year expenditures equal to her consumption expenditure at age 68. The minimum amount that she must accumulate by age 68 in order to fund her retirement is closest to: