Question: show calculation how to solve the next 3 problems 1. Today you earn a salary of $28,500. What will be your annual salary fifteen years
show calculation how to solve the next 3 problems
1. Today you earn a salary of $28,500. What will be your annual salary fifteen years from now if you earn annual raised of 3.5 percent? Round to the nearest cent. Do not include any unit (If your answer is $111.11, then type 111.11 without $ sign.)
2. You just started your first job today. Besides your 401K, you are planning to save $3,000 a year for 40 years for your retirement when you receive tax returns. If the first deposit is made a year from now into an account with the annual interest rate of 8%, how much will you have in your account in 40 years? Round to the nearest cent. Do not include any unit (If your answer is $111.11, then type 111.11 without $ sign.)
3.Your parents are giving you $100 a month for four years while you are in college. At a 6 percent discount rate, what are these payments worth to you when you start college? Round to the nearest cent. Do not include any unit (If your answer is $111.11, then type 111.11 without $ sign.)
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