Business, 16.06.2021 02:00 cbogrett

Mark Johnson saves a fixed percentage of his salary at the end of each year. This year he saved $2,000. For each of the next 5 years, he expects his salary to increase at an 4% annual rate, and he plans to increase his savings at the same 4% rate. There will be a total of 6 investments, the initial $2,000 plus five more. If the investments earn a return of 15% per year, how much will Mark have at the end of six years

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Mark Johnson saves a fixed percentage of his salary at the end of each year. This year he saved $2,0...