Constant percentage of salary


You've 32 years left till retirement and want to retire with $3.3 million. Your salary is paid annually, and you will receive $46,000 at end of the current year. Your salary will raise at 2.1 percent for each year, and you can earn 15.1 percent return upon the money you invest. If you save constant percentage of your salary, what percentage of your salary must you save each year?

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Mathematics: Constant percentage of salary
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