Retirement Example 5 (Geometric Gradient Series)

Retirement Example 5 (Geometric Gradient Series) - career...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Retirement Example 5 (Geometric Gradient Series) When you leave here, your starting salary will be somewhere around $50,000 per year. Let’s assume that your salary will rise by 4% per year on average throughout your working
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: career. If you put 10% of your salary annually into a retirement account paying interest at a rate of 7% per year, how much will you have to retire on after 40 years of saving?...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online