*****( ALL OF THE QUESTIONS ARE RELATED TO EACHOTHER)****

1. A business student earned an average salary of $47,937 per year their first year after graduation. Assume that is the salary that you will earn following graduation at your first job when you graduate. Further assume that you stay at that job for your entire career and earn a 3% raise each year. If you start working when you are 20 years old, how much money will you earn per year when you are 60 (40 years later)?

2. According to financial planners, the average retiree requires approximately 70% of their last year