Question
A civil engineer planning for her retirement places 9% of her salary each year into a high-technology stock fund. If her salary this year (end
A civil engineer planning for her retirement places 9% of her salary each year into a high-technology stock fund. If her salary this year (end of year 1) is $170,000 and she expects her salary to increase by 2% each year, what will be the future worth of her retirement fund after 14 years provided it earns 12% per year?
The future worth of her retirement fund will be $ .
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
