Hannah, age 65, is retiring today. Hannah would like $100,000 per year in retirement income. If the invested assets to gross pay benchmark is 16:1, how much should Hannah have saved for retirement according to the invested assets to gross pay benchmark

Respuesta :

Based on the information given, the amount that Hannah will have saved for retirement will be $1,600,000.

From the information given, it was stated that Hannah would like $100,000 per year in retirement income and that the invested assets to gross pay benchmark is 16:1.

Therefore, the amount that'll have been saved will be:

= 16/1 × $100,000

= $1,600,000

In conclusion, the correct option is $1,600,000.

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