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You decided to put away 10% of your annual salary for retirement. Your annual salary...

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Accounting

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You decided to put away 10% of your annual salary for retirement. Your annual salary is $25,000 for the first year (at age 23) and it increases by 4% every year until your retirement (at age 55). What will be the worth of your account when you retire if the interest is 5% per year? O a $100,993.22 O b. $24,692.833 c. $338,701.86 d. $67,697.20 e. $256,123.85 What is the nominal annual interest rate if the effective annual rate is 6.4% and compounding is continuous? a. 5.50% b.6.20% O c. 6.49% O d. 5.86% e. 5.65%

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