Problem 601. Retirement savings

At the start of what year will you have reached or exceeded a savings goal?
Parameters (all are constant scalars given in a structure):
  • f.startingSalary: Starting yearly salary
  • f.investRate: Percentage of salary invested each year
  • f.raiseRate: Percentage raise given at beginning of year EXCEPT the first
  • f.returnRate: Percentage gain in invested money
  • f.goal: Savings goal
Simplifying assumptions:
  • All money is invested at the end of the year.
  • Interest is awarded once at the end of the year on money that has been invest for an entire year
  • All interest is reinvested immediately and will gain interest the next year
Return:
  • At the beginning of which year will the goal been met or exceeded?
Solve

Solution Stats

40.96% Correct | 59.04% Incorrect
Last Solution submitted on Jul 25, 2024

Problem Comments

Solution Comments

Show comments

Problem Recent Solvers28

Suggested Problems

More from this Author51

Problem Tags

ml101

Community Treasure Hunt

Find the treasures in MATLAB Central and discover how the community can help you!

Start Hunting!