4.42 You are saving for your retirement. You have decided that one year from today you will...
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4.42 You are saving for your retirement. You have decided that one year from today you will deposit 2 percent of your annual salary in an account which will earn 8 percent per year.
Your salary last year was $50,000, and it will increase at 4 percent per year throughout your career. How much money will you have for your retirement, which will begin in 40 years?
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Related Book For 
Corporate Finance
ISBN: 9780071229036
6th International Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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