RATE 3.5% per year for all problems unless otherwise noted
1. Jill starts working on her 23rd birthday with an annual saary of $57,000. She sets aside 4.5% of her salary at the end of each year for her pension plan, whch is matched by her employer. She hopes her retirement account can make 5.5% per year interest average. She porjects being able to get 2.5% raises average per year through out her 30 year work career. Project the amount in her pension plan at retirement.
2. Based, on the question above, project Jane’s estimated annual retirement income, assuming 23 years of retirement.