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Unformatted text preview: the end of every year that you work. How much do you need to contribute each year to fund your retirement? 4-46. Problem 45 is not very realistic because most retirement plans do not allow you to specify a fixed amount to contribute every year. Instead, you are required to specify a fixed percentage of your salary that you want to contribute. Assume that your starting salary is $75,000 per year and it will grow 2% per year until you retire. Assuming everything else stays the same as in Problem 45, what percentage of your income do you need to contribute to the plan every year to fund the same retirement income?...
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This note was uploaded on 11/15/2010 for the course MSA Audit taught by Professor Mark during the Spring '10 term at Strayer.
- Spring '10