Your salary increases by 5 per year what value does your


Your salary in year 1 is $30,000. You deposit 10% at the end of each year in a savings account that earns 6% interest. Your salary increases by 5% per year. What value does your savings account show after 40 years? (Answer: $973,719)

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Business Economics: Your salary increases by 5 per year what value does your
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