A graduating CE is going to make $35,000/yr with Granite Construction. A total of 10% of the CE salary will be placed in the mutual fund of their choice. The CE can count on a 3% salary increase with the standard of living increases for the next 30 years of employment. If the CE is aggressive and places their retirement in a stock index fund that will average 10% over the course of their career, what can the CE expect at retirement?
A graduating CE is going to make $35,000/yr with Granite Construction. A total of 10% of the CE salary will be placed in the mutual fund of their choice. The CE can count on a 3% salary increase with the standard of living increases for the next 30 years of employment. If the CE is aggressive and places their retirement in a stock index fund that will average 10% over the course of their career, what can the CE expect at retirement?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
A graduating CE is going to
make $35,000/yr with Granite
Construction. A total of 10% of the
CE salary will be placed in the mutual
fund of their choice. The CE can
count on a 3% salary increase with
the standard of living increases for
the next 30 years of employment. If
the CE is aggressive and places their
retirement in a stock index fund that
will average 10% over the course of
their career, what can the CE expect
at retirement?
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