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A young engineer's starting salary is $52,000. The engineer expects annual raises of 3%. The engineer will deposit 10% of the annual salary at the
A young engineer's starting salary is $52,000. The engineer expects annual raises of 3%. The engineer will deposit 10% of the annual salary at the end of each year in a savings account that earns 4%. How much will the engineer have saved for starting a business after 15 years? We suggest that the spreadsheet include at least columns for the year, the years salary, the years deposit, and the years cumulative savings.
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