Grady Zebrowski, age 25, just graduated from college, accepted his first job with a $47,000 salary, and is already looking forward to retirement in 40 years

Grady Zebrowski, age 25, just graduated from college, accepted his first job with a $47,000 salary, and is already looking forward to retirement in 40 years. He assumes a 3.2 percent inflation rate and plans to live in retirement for 20 years. He does not want to plan on any Social Security benefits. Assume Grady can earn a 6 percent rate of return on his investments prior to retirement and a 5 percent rate of return on his investments post-retirement

Adjusting for? inflation, how much does Grady need per year in future dollars when he begins retirement in 40 ?years? answer is 171,399.29

trying to solve the following

• If he needs this amount for 20 ?years, how much does he need in total for? retirement?? (Hint: Use the? inflation-adjusted rate of? return.)
•  How much does Grady need to save per month to reach his retirement goal assuming he does not receive any employer match on his retirement? savings?