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    jpadil00's Avatar
    jpadil00 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 25, 2013, 02:58 PM
    My current salary is $65,000 per year, and I'm planning to retire 25 years from now.
    My current salary is $65,000 per year, and I'm planning to retire 25 years from now. I'm anticipated that my annual salary will increase by $3,000 each year. (That is, in the first year he will earn $65,000, in the second year $68,000, in the third year $71,000, and so forth.) I'm planning to deposit 5% of my yearly salary into a retirement fund that will earn 7% interest compounded daily. What will be the amount accumulated at that time of my retirement?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Oct 25, 2013, 03:02 PM
    Please don't ask us to do your homework for you. We can critique your answer is you show us you did the work.
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