An engineer will deposit 10% of her salary each year into a retirement fund. If her current annual salary is $95,000 and she expects that it will increase by 6% each year, what will be the present worth of the fund after 30 years if it earns 6% per year?

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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4-84 An engineer will deposit 10% of her salary each year
into a retirement fund. If her current annual salary is
$95,000 and she expects that it will increase by 6%
each year, what will be the present worth of the fund
after 30 years if it earns 6% per year?
Contributed by Hamed Kashani, Saeid Sadri, and
Baabak Ashuri, Georgia Institute of Technology
Transcribed Image Text:4-84 An engineer will deposit 10% of her salary each year into a retirement fund. If her current annual salary is $95,000 and she expects that it will increase by 6% each year, what will be the present worth of the fund after 30 years if it earns 6% per year? Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology
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