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7. You have just graduated from Queen's and started your first job which pays $100,000 per year. Your goal is to have $10,000,000 saved by

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7. You have just graduated from Queen's and started your first job which pays $100,000 per year. Your goal is to have $10,000,000 saved by the time you retire. You except to retire in 43 years, your salary to grow by 5% per year, and to earn a 6.5% per year return from your savings. What percent of your salary must you save each year to reach your goal? A. 21.9% B. 23.3% C. 29.7% D. None of the above

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