Monday

April 21, 2014

April 21, 2014

Posted by **Nadia23** on Wednesday, July 15, 2009 at 5:17pm.

- math -
**Ms. Sue**, Wednesday, July 15, 2009 at 5:53pm30,000 * 0.04 = 1,200

30,000 - 1,200 = $28,800

That's how much it's worth in 2005. Repeat those steps for the next three years.

$28,800 * 0.04 =

- math -
**Aleah**, Wednesday, July 15, 2009 at 6:08pmIs it $24,773?

- math -
**Ms. Sue**, Wednesday, July 15, 2009 at 6:13pmI came up with 25,480.47.

Check your figures -- and I'll check mine again and will repost If I'm wrong.

- math -
**Aleah**, Wednesday, July 15, 2009 at 6:23pmYou are correct! I multiplied 28,000 instead of 28,800.

- math -
**Ms. Sue**, Wednesday, July 15, 2009 at 6:29pmActually, I found a minor discrepancy. I think the final answer should be #25,480.40

- math -
**DrBob222**, Wednesday, July 15, 2009 at 8:14pmNadia 23, miguel, etc etc. I interpret the problem a little differently than Ms. Sue.

Here is how I see it.

30,000*0.04 = 1200 and 30,000-1200 - 28,800 at the end of the first year.

For year 2, the salary STILL is 30,000 (not 28,800); therefore, the 30,000*0.04 is another 1200 lost in purchasing power. Thus, 28,800 - 1200 = 27,600.

For year 3, it is 27,600 - another 1200 = 26,400 and at the end of year 4 it is 26400 - 1200 = 25,200.

As I read the problem, the salary stays the same at 30,000/year. The way Ms. Sue has solved it is that the salary is 30,000 only for the first year and it decreases for years 2-4.

**Related Questions**

math - If a person makes $30,000 in 2004 and the inflation rate is 4% annually, ...

Finance - If a person makes $30,000 in 2004 and the inflation rate is 4% ...

Math - The Inflation Problem. If a person makes $30,000 in 2004 and the ...

MTH 156 - I am having trouble with this question, please help. If a person makes...

Stats (Finance) - Given the following information: Year X Y Z 2004 12.53 2.64 -4...

math - 3. (TCO A) The following questions are worth 5 points each. Please show ...

Finance - 2004 and the inflation rate is 4% annually

math - Perry made $34,885 this year. If the inflation rate was 6.5 percent, how ...

math - Suppose that an insurance agent offers you a policy that will provide you...

algebra - The equation y= - 1777x + 27,153 can be used to predict the number y ...