Determine the eav in the circumstance

Reference no: EM132741668

Problem 1: Determine the EAV in the following circumstances: 42 years of contributions at 10% (average) of salary; contributions are taxed at 15% p.a. and made monthly; starting salary is $51,000 growing at 5% p.a.; and earnings (return) in the fund are forecast to average 8.8% p.a. Assuming an inflation rate of 2.2% over the 42 years, also specify the PV of the EAV.

Reference no: EM132741668

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