Annual rate of return over the course of his career

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Joe's starting salary as a mechanical engineer is around 90,000 Joe is planning to place a total of 10% of his salary each year in the mutual fund. Joe expects a 5 % salary increase each year tor the next 30 years of employment. If the mutual fund will average 8% annual rate of return over the course of his career what can Joe expect at retirement.

Reference no: EM131353183

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Annual rate of return over the course of his career : Joe's starting salary as a mechanical engineer is around 90,000 Joe is planning to place a total of 10% of his salary each year in the mutual fund. Joe expects a 5 % salary increase each year tor the next 30 years of employment. If the mutual fund wi..

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