If You Expect to Retire in 30 Years, Live on $50,000

Multiple Choice

If you expect to retire in 30 years, live on $50,000 per year and expect the inflation to average 3% over the next 30 years, what amount of annual income will you need to live at the same comfort level in 30 years?

A) $121,363
B) $$95,000
C) $20,599
D) $51,500