Homework Answers
| Year | Salary | Contribution @ 4% at beginning of year | Total fund value at beginning of year | Interest @ 4% | Total fund value at end of year |
| 1 | 75000.00 | 3000.00 | 3000.00 | 120.00 | 3120.00 |
| 2 | 76875.00 | 3075.00 | 6195.00 | 247.80 | 6442.80 |
| 3 | 78796.88 | 3151.88 | 9594.68 | 383.79 | 9978.46 |
| 4 | 80766.80 | 3230.67 | 13209.13 | 528.37 | 13737.50 |
| 5 | 82785.97 | 3311.44 | 17048.94 | 681.96 | 17730.90 |
| 6 | 84855.62 | 3394.22 | 21125.12 | 845.00 | 21970.12 |
| 7 | 86977.01 | 3479.08 | 25449.21 | 1017.97 | 26467.17 |
| 8 | 89151.43 | 3566.06 | 30033.23 | 1201.33 | 31234.56 |
| 9 | 91380.22 | 3655.21 | 34889.77 | 1395.59 | 36285.36 |
| 10 | 93664.72 | 3746.59 | 40031.95 | 1601.28 | 41633.23 |
| 11 | 96006.34 | 3840.25 | 45473.48 | 1818.94 | 47292.42 |
| 12 | 98406.50 | 3936.26 | 51228.68 | 2049.15 | 53277.83 |
| 13 | 100866.66 | 4034.67 | 57312.49 | 2292.50 | 59604.99 |
| 14 | 103388.33 | 4135.53 | 63740.53 | 2549.62 | 66290.15 |
| 15 | 105973.04 | 4238.92 | 70529.07 | 2821.16 | 73350.23 |
| 16 | 108622.36 | 4344.89 | 77695.13 | 3107.81 | 80802.93 |
| 17 | 111337.92 | 4453.52 | 85256.45 | 3410.26 | 88666.70 |
| 18 | 114121.37 | 4564.85 | 93231.56 | 3729.26 | 96960.82 |
| 19 | 116974.40 | 4678.98 | 101639.80 | 4065.59 | 105705.39 |
| 20 | 119898.76 | 4795.95 | 110501.34 | 4420.05 | 114921.39 |
| 21 | 122896.23 | 4915.85 | 119837.24 | 4793.49 | 124630.73 |
| 22 | 125968.64 | 5038.75 | 129669.48 | 5186.78 | 134856.26 |
| 23 | 129117.85 | 5164.71 | 140020.97 | 5600.84 | 145621.81 |
| 24 | 132345.80 | 5293.83 | 150915.64 | 6036.63 | 156952.27 |
| 25 | 135654.45 | 5426.18 | 162378.45 | 6495.14 | 168873.58 |
Retirement Fund Value = 168873.58
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