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You have 30 years left until retirement and want to retire with $3.0 million. Your salary is paid annually, and you will receive $40,000 at the end of the current year. Your salary will increase at 2.0 percent per year, and you can earn a 15.0 percent return on the money you invest. If you save a constant percentage of your salary, what percentage of your salary must you save each year? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) Percent of salary to save %

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Financial Management, Finance

Category:- Financial Management
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