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7.2.69 A 50-year-old engineer planning for retirement places 10% of his salary each year into a highyield bond fund. If his salary this year (end

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7.2.69 A 50-year-old engineer planning for retirement places 10% of his salary each year into a highyield bond fund. If his salary this year (end of year 1) is $100,000 and he expects his salary to increase by 3% each year, determine the future worth of the retirement fund after 15 years provided it earns 7% per year

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