Question: Please be specific and show all the steps needed clearly. This problem has been giving me trouble. Thank you! Joe's starting salary as a mechanical

Please be specific and show all the steps needed clearly. This problem has been giving me trouble. Thank you!

Please be specific and show all the steps needed clearly. This problem

Joe's starting salary as a mechanical engineer is around $70,000. Joe is planning to place a total of 14% of his salary each year in the mutual fund. Joe expects a 7% salary increase each year for the next 25 years of employment. If the mutual fund will average 8% annual return over the course of his career, what can Joe expect at retirement? Click the icon to view the interest factors for discrete compounding when 8% per year. The amount Joe can expect at retirement is $thousand. (Round to the nearest whole number.)

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