What percent of his annual salary must he save to reach goal

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Reference no: EM131967872

LaMarcus Aldrige has a four year contract that will pay him $20M per year. After the contract ends he wants to retire. He figures he needs to have $25M to be comfortable.

He will earn 896 return on his money. What percent of his annual salary must he save to reach his goal? Assume he starts off with $0 in savings. Ignore taxes.

Reference no: EM131967872

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