What amount can joe expect at retirement

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Question: Joe's starting salary as a mechanical engineer is around $70, 000. Joe is planning to place a total of 14% of his salary each year in the mutual fund. Joe expects a 6% salary increase each year for the next 15 years of employment. If the mutual fund will average 7% annual return over the course of his career, what can Joe expect at retirement?

Reference no: EM131798072

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