Problem $4-34$ Growing Annuity

Your job pays you only once a year for all the work you did over the previous $12$ months.

Today, December $31,$ you received your salary of $$68,000$ and you plan to spend all of it$.$

However, you want to start saving for retirement beginning next year. You have decided

that one year from today you will begin depositing $10$ percent of your annual salary in an

account that will earn $10\mathrm{.}8$ percent per year. Your salary will increase at $2$ percent per

year throughout your career. How much money will you have on the date of your

retirement $35$ years from today? $($Do not round intermediate calculations and round

your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$