assume that your father is now 40 years old ,that he plans to retire in 20 years and that he expects to live for 25 years after he retires ,that is until he is 85 .He wants a fixed retirement income that has the same purchasing power at the time he retires as 75000 has today (he realizes that the real retirement income will begin after he retires ) his retirement income will begin the day he retires ,20 years from today and he will get 24 additional annual payments .Inflation is expected to be 4 percent per year from today forward; he currently has 200000 saved up ; and he expects to earn a return on his savings of 7 percent per year ,annual compounding .To the nearest dollar ,how much must he save during each of the next 20 years (with deposits being made at the end of each year) to meet his retirement goal.