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Emily Dorsey's current salary is $82,000 per year, and she is planning to retire 26 years from now. She anticipates that her annual salary will
Emily Dorsey's current salary is $82,000 per year, and she is planning to retire 26 years from now. She anticipates that her annual salary will increase by $4,000 each year ($82,000 the first year, to $86,000 the second year, $90,000 the third year, and so forth), and she plans to deposity 10% of her yearly salary into a retirement fund that earns 9% interest compounded daily. What will the amount of interest accumulated at the time of Emily's retirement? Assume 365 days per year.
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