Business, 01.10.2019 22:30 zeinabelsiblini

Assume that you are 30 years old today, and that you are planning on retirement at age 65. your current salary is $45,000 and you expect your salary to increase at a rate of 5% per year as long as you work. to save for your retirement, you plan on making annual contributions to a retirement account. your first contribution will be made on your 31st birthday and will be 8% of this year's salary. likewise, you expect to deposit 8% of your salary each year until you reach age 65. assume that the rate of interest is 7%.

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Assume that you are 30 years old today, and that you are planning on retirement at age 65. your curr...