Retirement Example 5 (Geometric Gradient Series)

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

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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
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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?...
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This note was uploaded on 12/07/2011 for the course CIVL 4111 taught by Professor Moore,l during the Fall '08 term at U. Memphis.

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