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QUESTION 10 Assume that you are 20 years old today, and that you are planning on retirement at age 65. Your current salary is $50000
QUESTION 10 "Assume that you are 20 years old today, and that you are planning on retirement at age 65. Your current salary is $50000 and you expect your salary to increase at a rate of 3% per year as long as you work. To save for your retirement, you plan on making annual contributions to a retirement account. Your first contribution will be made on your 21st birthday and will be 10% of this year's salary. You expect to deposit 10% of your salary each year until you reach age 65. Assume that the rate of interest is 3.5%. The present value (PV) (at age 20) of your retirement savings is .Note: Express your answers in strictly numerical terms. For example, if the answer is $500, write enter 500 as an
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