Question: Mark's current salary is $ 6 0 , 0 0 0 . Mark will start saving 1 6 % of his annual salary starting the

Mark's current salary is $60,000. Mark will start saving 16% of his annual salary starting the
end of this year in a mutual fund that returns 7% on average. Mark expects his salary to
increase by
4% per year for the next 29 years of employment. How much money should Mark expect to
have at
retirement 29 years from now
Mark's current salary is $60,000. Mark will start saving 16% of

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