What percentage of your salary must you save year

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Reference no: EM131555450

You have 30 years left until retirement and want to retire with $2 million. Your salary paid annually and you will receive $70,000 at the end of current year. Your salary will increase at 3% per year, You can earn 9% return on your investment. If you save a constant percentage of your salary, What percentage of your salary must you save year?

Reference no: EM131555450

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