Ms. Dorothy Swan, who works for a company in the private sector, plans to retire after 30
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Ms. Dorothy Swan, who works for a company in the private sector, plans to retire after 30 years. She plans to transfer 7% of her monthly net salary to a saving account at an interest rate 9% compounding monthly. She will pay the first deposit one month after today and will start to earn as soon as she pays. She expects her salary increase by 8% at the end of each year during her carrier. The first salary increase will be applied exactly one year after today. Ms. Swan's net salary today is $ 2000, how much money accumulates in the saving account when she retires?
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