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Emily Dorsey's current salary is $68,000 per year, and she is planning to retire 18 years from now. She anticipates that her annual salary will
Emily Dorsey's current salary is $68,000 per year, and she is planning to retire 18 years from now. She anticipates that her annual salary will increase by $2,000 each year ($68,000 the first year, to $70,000the second year, $72,000the third year, and so forth), and she plans to deposit 10% of her yearly salary into a retirement fund that earns 4% interest compounded daily. What will be the amount of interest accumulated at the time of Emily's retirement? Assume 365 days per year.
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