In 2019, the average salary of petroleum engineers was $98,400. Predict what their salary will be in 2028 if their salary increases only by the inflation rate. Assume the inflation rate over this time period is constant at 3.6% per year. The salary of the petroleum engineers will be $ 127183.1
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- In 2019, the average salary of petroleum engineers was $98,400. Predict what their salary will be in 2028 if their salary increases only by the inflation rate. Assume the inflation rate over this time period is constant at 3.8% per year. The salary of the petroleum engineers will be $ .Assuming that the inflation rate from 2017 through 2019 is 6% per year: a) What would be the real value of a $65,000 income in each of the three years? (Show all work) b) What does the real income for 2019 mean?Massy Store makes a $10,500 investment at Republic Bank Ltd on January 1, 2019. At the end of December 31, 2023, Massy Store is expected to accumulate an amount of $17166.25?i. Calculate the interest rate needed to procure this investment? ii. How long will it take for the initial amount invested to be doubled, given that interest is compounded annually at the rate in (i) above?
- Suppose your salary in 2016 is $50,000. Assuming an annual inflation rate of 6%, what salary do you need to earn in 2019 in order to have the same purchasing power? (Round your answer to two decimal places.)Waterway Industries will receive $26500 today (January 1, 2020), and also on each January 1st for the next five years (2021 – 2025). What is the present value of the six $26500 receipts, assuming a 8% interest rate?Suppose a government is making a series of payments to another government, up to the end of 2039. · The first payment is made on 1 January 2021, and is equal to $700,000; · All subsequent payments are made on the first of each quarter, but increasing at an inflation rate r, of r = 1.5% every 12 months (effective). · That is, the payments on 1 April 2021, 1 July 2021, 1 October 2021 are also $700,000 each, but all payments made in 2022 are $700,000(1+r) each, all payments made in 2023 are $700,000(1+r)2 each, and so on. (a) Assuming an interest rate of 12% per annum (effective), what is the present value of the above payments as at 1 October 2020?
- In each situation described below, identify the initial payment, the term interest rate, andthe number of compounding periods. An investment of $10000 made in January 2018 at an APR of 5% compounded monthly,and another investment of $20000 made in January 2025 at an APR of 3% compoundedweekly. What is the value of the account in January 2030?The balance of cash surrender value of life insurance policy on the books of Paulo Corporation increased from $80,000 to $115,000 during 2020. If the company pays annual insurance premium of $110,000 on this policy, what amount should be the life insurance expense for 2020?A senior executive is offered a buyout package by his company that will pay him a monthly benefit for the next 20 years. Monthly benefits will remain constant within each of the 20 years. At the end of each 12− month period, the monthly benefits will be adjusted upwards to reflect the percentage increase in the CPI(an inflation rate). You are given:
- How much do you need to deposit on April 1, 2019, so that you can make a series of monthly withdrawals of $500? The first withdrawal will be made on May 1, 2025, and the last is made on May 1, 2030. The interest rate is 10% compounded monthly.A company's sales in 2019 were $100 million. If sales grow at 9%, what will they be 10 years later, in 2029?What is the present value on January 1, 2019, of $10,000 to be received on January 1, 2023, and discounted at 6% compounded quarterly? ____________________________ What is the future value on January 1, 2025, of $20,000 deposited on January 1, 2019, which accumulates interest at 10% compounded annually? ____________________________ What is the interest rate per period and the frequency of compounding per year in each of the following? If needed, round your interest rate answers to two decimal places. Interest RatePer Period Frequency of CompoundingPer Year a. 18% compounded semiannually _______% _______ times b. 16% compounded quarterly _______% _______ times c. 15% compounded monthly _______% _______ times