Question: Given the below pension assumptions (same as the previous question) , answer the following question. Starting salary 77,000 Annual salary increase 2.00% Years of employment

Given the below pension assumptions (same as the previous question), answer the following question.

Starting salary 77,000
Annual salary increase 2.00%
Years of employment 30
Vesting rate 1.75%
Return on investments 6.00%
Years of retirement 20

What is the amount of money required to be in the pension fund to meet the obligations at retirement?

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