Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just re

[answerhappygod]

Your job pays you only once a year for all the work you did over
the previous 12 months. Today, December 31, you just received your
salary of $65,000, and you plan to spend all of it. However, you
want to start saving for retirement beginning next year. You have
decided that one year from today you will begin depositing 5
percent of your annual salary in an account that will earn 10
percent per year. Your salary will increase at 4 percent per year
throughout your career. How much money will you have on the date of
your retirement 40 years from today? (20
points)