What value does your savings account show

Reference no: EM132171173

Question - Your beginning salary is $70,000. You deposit 10% each year in a savings account that earns 6% interest. Your salary increases by 5% per year and inflation is 3% per year. What value does your savings account show after 40 years? What is the value in Year-1 dollars?

Reference no: EM132171173

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