ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Matt Christopher is a 25-year-old mechanical engineer, and his salary next year will be $60,000. Matt expects that his salary will increase at a steady rate of 5% per year until his retirement at age 65. If he saves 10% of his salary each year and invest these savings at an interest rate of 9%, how much will he have at his retirement? Please depict cash flow diagram.

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