Assume that you are investing into a retirement account with an average annual interest rate of 6.75%. You will be investing 11% of your gross monthly salary each month for 25 years.
If you invest based on the information above and your desired annual salary, what will your retirement account be worth after 25 years? Be sure to show and explain the Excel formula used.
Using the same conditions, what would the retirement account of a high school graduate be worth after 25 years?
Use an absolute or relative change statement to compare the two retirement account values. Explain the change value.
