P8-50 - 2012 $190,330 $16,445 $254,171 2013 $205,557...

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Starting Salary = $60,000 8.64% 864 Annual Salary Increase = 8.00% Savings Interest Rate = 7.50% Average Inflation Rate = 3.75% Desired amount in 2027 (R$) = $500,000 Desired Amount in 2027 (A$) = $1,508,736 Year Salary (A$) 1997 $60,000 $5,184 $5,184 1998 $64,800 $5,599 $11,172 1999 $69,984 $6,047 $18,056 2000 $75,583 $6,530 $25,941 2001 $81,629 $7,053 $34,939 2002 $88,160 $7,617 $45,176 2003 $95,212 $8,226 $56,791 2004 $102,829 $8,884 $69,935 2005 $111,056 $9,595 $84,775 2006 $119,940 $10,363 $101,496 2007 $129,535 $11,192 $120,300 2008 $139,898 $12,087 $141,410 2009 $151,090 $13,054 $165,070 2010 $163,177 $14,099 $191,548 2011 $176,232 $15,226 $221,141
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Unformatted text preview: 2012 $190,330 $16,445 $254,171 2013 $205,557 $17,760 $290,994 2014 $222,001 $19,181 $331,999 2015 $239,761 $20,715 $377,615 2016 $258,942 $22,373 $428,308 2017 $279,657 $24,162 $484,594 2018 $302,030 $26,095 $547,034 2019 $326,192 $28,183 $616,244 2020 $352,288 $30,438 $692,900 2021 $380,471 $32,873 $777,741 2022 $410,909 $35,502 $871,574 2023 $443,781 $38,343 $975,284 2024 $479,284 $41,410 $1,089,841 2025 $517,626 $44,723 $1,216,302 2026 $559,036 $48,301 $1,355,825 2027 $603,759 $52,165 $1,509,677 Difference between Desired and Actual = $941 % Salary to Save Annually Savings (A$) Bank Balance (A$)...
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This note was uploaded on 01/24/2012 for the course ECON 421 taught by Professor Balch during the Summer '11 term at USC.

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