Question 111632
THE FORMULA IS PRINCIPAL(1+RATE)^(NUMBER OF YEARS)
P(1+.05)^32 THE 32 IS THE NUMBER OF YEARS (52-20=32)
10,000(1+.05)^32=$47,649.41 WOULD BE HIS SALARY AFTER 32 YEARS.
.75*47,649.41=$35,737.06 WOULD BE HIS RETIREMENT PAYMENT.