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You are saving for your retirement. You have decided that one year from today you will deposit 5percent of your annual salary in an account which will earn 6percent per year. Your salary currently (today) is $90,000, and it will increase at 2 percent per year throughout your career.

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APA 7th edition

How much money will you have for your retirement, which will begin in 40years? Assume your first payment into the account is one year from today after your first increase. In other words, your next yearโ€™s paycheck (Year 1) is more than $90,000since it will increase by 2% each year.ย  Get Finance Help Today

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