Question: A person decides to invest part of her salary for her retirement. She starts working at the beginning of the year (Jan 1st) that she becomes age 23, and assumes she contributes to her investment portfolio at the end of each year. She starts her salary at $60,000 and save 10% of her pay every month. She gets no raise for 5 years and then her salary increases at the rate of 3.5% per year for 10 years and then 5% per year for the rest of her career. All her raises are effective at the beginning of the year. She retires at the end of the year when she becomes 65. If her investment grows at the rate of 7% what is her total saving at the retirement? If the TVOM for the investment company, which managed her account, was 9% what is the Present Worth of the profit that the company made?