James plans to invest 10 percent of his annual salary after the tax into a retirement account at…
James plans to invest 10 percent of his annual salary after the tax into a retirement account at the end of every year for the next 30 years. Suppose that annual return is 4%, and his current after tax salary is 75k which grow 4% per year then:
Create a spreadsheet which shows James the balance of retirement account for various levels of annual investments and returns. Copy the spredsheet model showing the formulas in your word documents).
If he aims to gain $1,000,000 at the end of the 30th year, what percentage of his salary he should put in the investment annually.
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