A college graduate who is living in Cincinnati expects to earn an annual salary of $55,000. The
Question:
A college graduate who is living in Cincinnati expects to earn an annual salary of $55,000. The accompanying data shows the comparative salaries in other cities and percentage adjustments for living expenses. Develop an Excel template that allows the user to enter current annual expenses (in Cincinnati) for groceries, housing, utilities, transportation, and health care and compute the corresponding expenses for Boston and the net salary surplus for Boston. An example of what the output should look like is provided.
City | Comparative Salary | Groceries | Housing | Utilities | Transportation | Healthcare | |
---|---|---|---|---|---|---|---|
Atlanta | $60,482.00 | 15% | 25% | −10% | 6% | 5% | |
Boston | $85,925.00 | 14% | 141% | 43% | 11% | 31% | |
Charlotte | $58,012.00 | 11% | 5% | 2% | −2% | 6% | |
Dallas | $58,072.00 | 12% | −4% | −3% | 1% | 5% | |
Detroit | $57,590.00 | −2% | 15% | 0% | 6% | −1% | |
Los Angeles | $83,795.00 | 16% | 168% | 10% | 29% | 13% | |
New Orleans | $57,530.00 | 10% | 24% | −17% | −5% | 1% | |
Phoenix | $57,651.00 | 7% | 21% | −8% | 2% | 1% | |
San Diego | $86,446.00 | 18% | 187% | 18% | 27% | 15% | |
St. Louis | $56,084.00 | 14% | −9% | 13% | 1% | 4% |
(Type integers or decimals rounded to two decimal places as needed.)
| I | J | K | ||||
---|---|---|---|---|---|---|---|
1 | Cincinnati | Boston | |||||
2 | Salary | $55,000.00 | $nothing | ||||
3 | Annual Expenses | ||||||
4 | Groceries | $7,800.00 | $nothing | ||||
5 | Housing | $14,400.00 | $nothing | ||||
6 | Utilities | $3,000.00 | $nothing | ||||
7 | Transportation | $1,020.00 | $nothing | ||||
8 | Healthcare | $4,200.00 | $nothing | ||||
9 | Total | $30,420.00 | $nothing | ||||
10 | Salary Surplus | $24,580.00 | $nothing |
Statistics for Business and Economics
ISBN: 978-0132930192
8th edition
Authors: Paul Newbold, William Carlson, Betty Thorne