Considering taking a job with a regulator

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Reference no: EM13768326

Daniella is considering taking a job with a regulator in Washington DC. While the starting salary is not very high, the benefit package is terrific. For example, the agency contributes an annuity of $575 into a bank account in her name at the end of each month, beginning one month from today, on her behalf. Daniella estimates that she will work and receive this benefit for the next 28 years, when at that point she'll retire. Assuming the retirement benefit can be invested to earn 8% annually, how much will she have in her bank account when she begins her retirement 28 years from now?

Reference no: EM13768326

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