A colledge student who is currently at the age of 20 in year 2017. This student plans to enter the workforce at the age of 25. The starting salary when this student starts working is expected to be $50000. The expected annual salary raise is 5%. This student plans to retire at the age 60 and lives to the age of 100. After retirement, this student expects to keep a life style at the level of the same purchasing power as having an annual revenue of $80000 in 2017 dollars. The student plans to contribute a constant percentage of country is expected to be at 3%, how much should be the constant percentage this student contribute each year to the retirement fund? Please fill out the value without the percentage sign and round the percentage value to the nearest integer 1. The contribution will only be made during the years that the student is in the workforce, i.e., start working but before the retirement Note 2. After the retirement, starting from the year when the student is 61 years old, his/her only revenue source will be from the retirement fund 3. When the student reaches the expected life span, the retirement fund will be exhausted his/her salary into a retirement fund which is expected to earn 10% annual return. If the average inflation in this