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Your employer automatically puts 5 percent of your salary into a 401(k) retirement account each...

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Accounting

Your employer automatically puts 5 percent of your salary into a 401(k) retirement account each year. The
account earns 7% interest. Suppose you just got the job, your starting salary is $30000, and you expect to
receive a 2.5% raise each year.
For simplicity, assume that interest earned and your raises are given as nominal rates and compound
continuously.
Find the value of your retirement account after 15 years
Value =$
image

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