Your clients, both just turned 40, will retire when they turn
62. They have a current salary at an annual rate of ($10,000*salary
scalar + $100,000), being paid equally at the end of each month.
They expect a 3% raise in their salary every year until they
retire. They deposit 12% of their monthly salary in their 401(k)
account that generates an annual rate of return of 10%, compounded
daily. In addition, their employer matches their contribution with
5% of...