Problem 6.38 – Retirement Savings Plan Calculation with Annuity Deposit and Salary Growth
Fundamentals of Corporate Finance
Ross, Westerfield, and Jordan
13th Edition
What is the retirement savings a person can accumulate in 40 years, if they receive an annual salary, deposit a fixed percentage of it each year in an account with a fixed interest rate, and have a salary increase of a certain percentage per year, starting from next year?
Calculator Preview
Your numbers will vary.