The average age of engineering students when they graduate is a little over 23 years. Let’s assume that the working career of most engineers is exactly 40 years (retiring at 63). How much would an engineer need to save each month to have $3 million saved by the end of his or her working career? Assume i = 5.0 percent compounded monthly.

What will be an ideal response?


Trades & Technology

You might also like to view...

¿Qué parte de las calderas aisladas en fábrica podrían requerir aislamiento?

a. Los hogares b. Los colectores de salida c. Los extremos del tambor d. Las paredes laterales

Trades & Technology

Every snake, regardless of species, needs _____

a. a cage that is made of wood b. several heat rocks spread out through the cage c. a container of water large enough to allow it to be totally submerged d. commercial reptile sand and reptile litter as the substrate for its cage

Trades & Technology

In cattle, the egg is usually released from the ovary between hours ____________________ and

____________________ of the heat period.

Fill in the blank(s) with the appropriate word(s).

Trades & Technology

Which type of plants, when placed in focal areas of the home, provides a sense of tranquility?

a. Flowering plants c. Design plants b. Sweet-smelling plants d. Specimen plants

Trades & Technology