A young engineer’s starting salary is $65,000. The engineer expects annual raises of 2.5%. The engineer will deposit a constant percentage of annual salary at the end of each year in a savings account...


A young engineer’s starting salary is $65,000. The engineer expects annual raises of 2.5%. The engineer will deposit a constant percentage of annual salary at the end of each year in a savings account that earns 5%. What percentage must be saved so that there will be $1 million in savings for retirement after 35 years?



Jun 05, 2022
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