Question
Given the below pension assumptions (same as the previous question), answer the following question. Starting salary 77,000 Annual salary increase 2.00% Years of employment 30
Given the below pension assumptions (same as the previous question), answer the following question.
| Starting salary | 77,000 |
| Annual salary increase | 2.00% |
| Years of employment | 30 |
| Vesting rate | 1.75% |
| Return on investments | 6.00% |
| Years of retirement | 20 |
What is the amount of money required to be in the pension fund to meet the obligations at retirement?
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Business Statistics In Practice
Authors: Bruce Bowerman, Richard O'Connell
6th Edition
0073401838, 978-0073401836
