Explain how much can you expect at retirement

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Reference no: EM1362811

Your starting salary as a mechanical engineer is expected to be $55,000. A total of 10% of your salary each year will be placed in the mutual fund of your choice. You can also count on a 5% annual salary increase for the next 30 years of employment. If the mutual fund will average 9% annual return over the course of your career, how much can you expect at retirement?

Reference no: EM1362811

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