Question
Your beginning salary is $68,000. You deposit 8% each year in a savings account that earns 3% interest. Your salary increases by 5% per
Your beginning salary is $68,000. You deposit 8% each year in a savings account that earns 3% interest. Your salary increases by 5% per year and inflation is 2.5% per year. What value does your savings account show after 30 years? What is the value in Year-1 dollars?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
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