Question: When I was a wee lad, I decided to be smart and pick the Terry major with the highest median starting salary. I just graduated

When I was a wee lad, I decided to be smart and pick the Terry major with the highest median starting salary. I just graduated from UGA as a Management Information Systems major and accepted a job that offers me an annual salary of $

79, 000 (

paid in monthly installments

)

with a one

-

time signing bonus of $

5, 000 .

I want to get an early start on my savings so I immediately deposit my signing bonus into a brokerage account and plan to deposit

15 %

of my monthly salary into that account every month until I retire, in

41

years.

What is the future value of my retirement savings assuming an interest rate of

8.7 %

APR, compounded monthly?

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