Engineer planning for retirement

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Reference no: EM131235860

An engineer planning for her retirement will deposit 15% of her salary each year into a stock found. The initial balance in her stock found (year 0) is $5,000. If her salary this year is $100,000 (end of year 1) and she expects her salary to increase by 5% each year, what will be the future worth of the found after 20 years if it earns 15% per year?

Reference no: EM131235860

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