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(25 points) Assume you begin work in a company with a starting annual salary of $100,000, increasing by 3% each year. You also have a
(25 points) Assume you begin work in a company with a starting annual salary of $100,000, increasing by 3% each year. You also have a savings account offering 2% annual interest. You plan to make 35 end-of-year payments in the savings account and then retire and start withdrawing level amounts starting at year 36 and for the next 14 years (i.e., 15 withdrawals total), after which the account will be empty. If you want the withdrawals to be 30% of your last (highest) salary, find what fixed proportion x of your annual salary you should deposit each year
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