Question: ( NPV function & Goal Seek ) A young engineer s starting annual salary is $ 6 0 , 0 0 0 . The engineer

(NPV function & Goal Seek)
A young engineers starting annual salary is $60,000. The engineer expects annual raises of 6%. The engineer willdeposit a constant percentageof the annual salary at the end of each year in a savings account that earns 7%.
If this youngengineer wants to have$3 million in this saving account for retirement after 40 years, the engineer should deposit Question Blank 1 of 1% of salary every year.
(Rounding answer toone decimal place)

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