Your Current Income Is $50,000 Per Year,and You Would Like

Multiple Choice

Your current income is $50,000 per year,and you would like to maintain your current standard of living (i.e.,your purchasing power) when you retire.If you expect to retire in 30 years and expect 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