What will be amount of interest accumulated at the time

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Emilys current salary is $85,000 per year, and she is planning to retire 24 years from now. She anticipates that her annual salary will increase by$1,000 each year ($85,000 the first year, to $86,000 the second year, $87,000 the third year, and so forth), and she plans to deposit 5% of her yearly salary into a retirement fund the earns 4% interest compound daily. What will be the amount of interest accumulated at the time of Emilys retirement. Assume 365 days per year.

Reference no: EM13848335

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