4. Suppose that the rate of inflation over the next 60 years will be 3%, the rat

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4. Suppose that the rate of inflation over the next 60 years will be 3%, the rate of your income growth will be 4% over the next 30 years, and the rate of your investments will also be 4%. Assume continuous growth of salary, savings, etc. a. If your first job pays $40K/year, how much will you make in 30 years? b. Suppose that when you retire in 30 years, you want to have half your salary (at that time) available for 30 more years. How much you have invested at the time you retire? c. How much should you save every year on order to have the proper amount invest when you retire?

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