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How much will you be saving

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Question - Assume that you begin saving 3% of your total income in an employer-provided retirement plan at work. How long will it take for you to be saving at least 20% of your income if your employer provides a 4% wage increase yearly and you save half of each year's increase?

Based on your calculations from part a, how much will you be saving (using the end-of-year savings rate) over the next 10 years if you earn $30,000 this year?

Reference no: EM133017663

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