Question: Mark s current salary is $ 7 8 , 0 0 0 . Mark will start saving 1 7 % of his annual salary starting

Marks current salary is $78,000. Mark will start saving 17% of his annual salary starting the
end of this year in a mutual fund that returns 11% on average. Mark expects his salary to increase by
2% per year for the next 32 years of employment. How much money should Mark expect to have at
retirement 32 years from now?

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