Emily dorseys current salary is 85000 per year and she is, Ask an Expert

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Emily Dorsey's current salary is 85000 per year and she is planning to retire 17 years from now. She anticipated that her annual salary will increase by 4000 each year (85000 the first year, 89000 the second, 93000 the third year, and s forth) and she plans to deposit 10% of her yearly salary into a retirement fund that earns 8% interest compounded daily. What will be the amount of interest accumulated at the time of Emily's retirement? Assume 365 days per year.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91418090

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