Percent return on the money, Finance Basics

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Percent return on the money

You have 40 years left until retirement and want to retire with $4.5 million. Your salary is paid annually, and you will receive $70,000 at the end of the current year. Your salary will increase at 2.5 percent per year, and you can earn a 14.2 percent return on the money you invest. If you save a constant percentage of your salary, what percentage of your salary must you save each year?

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Finance Basics: Percent return on the money

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Finance Basics: Percent return on the money

Reference No:- TGS040684

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Determining the interest on investment

Q : Prepare the necessary adjusting journal

Q : Cost of capital in terms of the financing costs

Q : Estimate of the expected amount ranges

Q : Percent return on the money

Q : Solve for equilibrium output in the domestic economy

Q : Write down the national income identity

Q : Double-entry transaction

Q : Expected return on portfolio-determine the portfolio beta

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: Percent return on the money

Reference No:- TGS040684

Recent Questions Asked Finance Basics

Q : Determining the interest on investment

Q : Prepare the necessary adjusting journal

Q : Cost of capital in terms of the financing costs

Q : Estimate of the expected amount ranges

Q : Percent return on the money

Q : Solve for equilibrium output in the domestic economy

Q : Write down the national income identity

Q : Double-entry transaction

Q : Expected return on portfolio-determine the portfolio beta

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