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A young engineer's starting salary is $55,000. 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 $55,000. 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. What must the savings interest rate be so that there will be $150,000 in the savings account after 15 years? Use excel to solve. Your spreadsheet must include at least columns for the year, the year's salary, the year's deposit, and the year's cumulative savings. Show the formula for your calculation.

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