October 4, 2015

Homework Help: Math

Posted by Tina on Monday, May 7, 2012 at 8:18pm.

You are 40 years old and have a salary of $50,000 per year. When you retire at age 66, you want to have a salary that has the same buying power as the one you currently have. If you estimate that the inflation rate will be 1.25% per year, what will your final salary need to be?

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