Question: Do in Matlab Simulink, explain how it is done so it can be replicated in Simulink. Your gross salary accumulates monthly retirement allowance by 1.5%
Do in Matlab Simulink, explain how it is done so it can be replicated in Simulink. Your gross salary accumulates monthly retirement allowance by 1.5% yearly. For example, 3600 * 1.5% / 12 = 4.5 EUR/month. Once you retire, the monthly retirement allowance is fixed to its accumulated value (e.g. 360 * 4.5 = 1575 EUR/month). Assume that you work for 30 years with a starting salary of 3600 EUR/month salary increasing 2%/12 monthly (as in Q2) and 3100 EUR/month expenses. a) What would be your monthly retirement allowance? b) Assume that you do not want to decrease your standard of living once you have retired (expenses = 3100 EUR/month). Estimate the number of years you would survive (=cumulated savings > 0) using your cumulated savings plus the monthly retirement allowance (which is fixed according to (a)). Assume that the monthly retirement income will have the same tax-% as the salary did, and your savings continue accruing the interest payments. HINT: Run the modeling in two pieces: (1) working career (360 months) to cumulate savings and (2) retirement period in which you change the initial condition of the cumulated savings and salary
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