You want to have $500000 in savings when you retire in 30years. Your monthly salary is expected to grow by 0.2% every month between now and your retirement date and you always have a constant fraction of your salary. The interest rate is 9% (EAR)

How much do you have to save in the first month, i.e one month from now?

Intro You want to have $500,000 in savings when you retire in 30 years. Your monthly salary is expected to grow by 0.2% every month between now and your retirement date and you always save a constant fraction of your salary. The interest rate is 9% (EAR). Part 1 Attempt 1/2 for 10 pts. How much do you have to save in the first month, 1.e., one month from now? 0+ decimals Submit