What will be the present worth of the fund

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Reference no: EM131807570

An engineer will deposit 15% of her salary each year into a retirement fund. If her current annual salary is $80,000 and she expects that it will increase by 5% each year, what will be the present worth of the fund after 35 years if it earns 5% per year? Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology

Reference no: EM131807570

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