Suppose your salary in 2014 is $30,000. Assuming an annual inflation rate of 6%, what salary do you need to earn in 2020 in order to have the same purchasing power? (Round your answer to two decimal places.

Q: What rate of interest compounded quarterly will yield an effective interest rate of 7%?

A: Effective interest rate=1+inn-1

Q: Suppose your salary in 2015 is $40,000. Assuming an annual inflation rate of 9%, what salary do you…

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Q: A couple who borrow $60,000 for 15 years at 6%, compounded monthly, must make monthly payments of…

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Q: Suppose your salary in 2012 is $70,000. Assuming an annual inflation rate of 7%, what salary do you…

A: Given that the salary in 2012 is $ 70,000 and inflation rate 7 % So, Inflation rate (r) = 7 %=0.07…

Q: uppose your salary in 2016 is $30,000. Assuming an annual inflation rate of 7%, what salary do you…

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Q: What interest rate enables an imvestor to obtain a 70% increase in an investment in 2 years if the…

A: In this question, the concept of Compound interest is applied. Compound Interest Compound interest…

Q: If the average annual inflation rate is 3.1%, how long will it take for the CPI index to double? (A…

A: Given: the average annual inflation rate is 3.1% To find: how long it will take for the CPI index to…

Q: Assume the inflation rate is constant at 3.5% and applied at the beginning of every year. If the…

A: Consider that the inflation rate is constant at 3.5% and is applied at the beginning of every year.…

Q: If the inflation rate averages 3%, how much will $1000 purchase in 2 years?

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Q: Your client believes that they will have $2,400,000.00 in a retirement account in 26 years. If the…

A: Given data is: Retirement amount is A=$2,400,000.00 Time (t)=26 years The inflation rate is  r=1.5%…

Q: At an annual inflation rate of 6.9%, how long will it take the Consumer Price Index (CPI) to double?…

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Q: Use the CPI from year 2005 to 2015 provided in the table. Year Base 2005 2006 2007 2008 2009 2010…

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Q: Suppose your salary in 2014 is $30,000. Assuming an annual inflation rate of 2%, what salary do you…

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Q: With an annual inflation rate of 1.91%, how much did an item that now costs $8600 cost 8 years…

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Q: Find the time it would take for the general level of prices in the economy to double at the average…

A: To use the exponential model with the given data to find the required time

Q: Kyoko has $10,000 that she wants to invest. Her bank has several investment accounts to choose from,…

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Q: According to Pacific Business news, the Hawaii company, which analyzed Multiple Listing Service…

A: Let's find.

Q: A financial institution offers you a one-year certificate of deposit with an interest rate of 5…

A: Deriving from the Fisher equation, we get that real interest rate equals the nominal interest rate…

Q: If the inflation rate is 4% compounded annually, how long will it take for prices to double? years…

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Q: Use the rule of 70 to estimate the years to double at an inflation rate of 4%.

A: Here, rate= 4

Q: Solve the problem 12) If inflation is 3% a year compounded annually, what will it cost in 6 years to…

A: Recall the following fact.

Q: Suppose your salary in 2015 is $60,000. Assuming an annual inflation rate of 3%, what salary do you…

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Q: A professional athlete signs a two-year contract in which the earnings c can be modeled by 2,200,000…

A: Given:- A professional athlete signs a two-year contract in which the earnings c can be modeled by…

Q: Find the time it would take for the general level of prices in the economy to double at an average…

A:

Q: (Assume continuous compounding. Round your answer to the nearest cent.) $ If the average cost of a…

A: Total number of years = 2017-1982 =35 a. Expected cost in 2017 = $20 * e^(35*0.16)

Q: If the final value is $5380 at the end of 5 years and the simple rate of interest is 9%, what is the…

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Q: If the current CPI is 234.2 and the average annual inflation rate is 2.8%, what will be the CPI in 5…

A: The term CPI is the Current Price Index, which represents the relative change in the price of a…

Q: Suppose your salary in 2015 is $50,000. Assuming an annual inflation rate of 6%, what salary do you…

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Q: If the amount that $1000 will purchase is only $930 after 2 years, what was the average inflation…

A: The amount A that $P will purchase after n years if the inflation averages a rate of r over n years…

Q: If the price of attending Big Benefits University is $8,000 a year for tuition, fees, books, and and…

A: Amount for tuition, fees and books = $8000 Amount in foregone earnings = $25000 Total price of…

Q: What nominal rate of interest convertible once every four years is equivalent to a nominal rate if…

A: What nominal rate of interest convertible once every four years is equivalent to a nominal rate if…

Q: If the amount that $1000 will purchase is only $950 after 2 years, what was the average inflation…

A: The inflation rate is the rate of change, or increase or decrease in the price of a commodity over a…

Q: If 32100 dollars is invested at an interest rate of 5 percent per year, find the value of the…

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Q: If an investment grew to $11,500 in 3 years and the interest amount earned was $1,400, calculate the…

A: NOTE: Refresh your page if you can't see any equations. . future value is A=11500 the interest is…

Q: 3. Dave bought a car 8 years ago for $5400. To buy a similar car today would cost $12,500. Assuming…

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Q: island inn2013 to be about 600,000,000,000. Assuming this is to be true, what would have been a fair…

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Q: What initial investment is required to produce a maturing amount of $15 000 in 60 months ' time…

A: From the given data, Maturing amount (A)=$15,000 Time (T)= 60 months = 5 years Compounded annually ,…

Q: Today, a typical family of four spends $920/month for food. If inflation occurs at the rate of…

A: It is given that a family spends 920/month for food and inflation occurs at the rate of 3% over next…

Q: If Jackson deposited $400 at the end of each month in the saving account earing interest at the rate…

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Q: If 32800 dollars is invested at an interest rate of 8 percent per year, find the value of the…

A: A=P1+rnntwhere P = principal amount (the initial amount you borrow or deposit )r = annual rate of…

Q: If the inflation rate is 4.85% compounded annually, how long will it take for prices to double?

A:

Q: Solve the problem. 10) How long will it take for prices in the economy to double at a 4% annual…

A: Recall the following fact.

Q: Suppose your salary in 2012 is $30,000. Assuming an annual inflation rate of 6%, what salary do you…

A: Consider the provided information, Suppose your salary in 2012 is $30,000. Assuming an annual…

Q: Year CPI 2009 214.5 2010 218.1 2011 224.9 2012 229.6 2013 233.0 2014 236.7 2015 237.0 2016 240.0…

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Q: If the annual rate of inflation is 4%, find the price of a good at the end of a year if its price at…

A:

Q: If the annual rate of inflation is 4%, find the price of a good at the end of a year if its price at…

A: the price at the beginning of the year $25 the rate of inflation is 4% the price at  the end of the…

Q: What monthly interest rate equals a quarterly interest rate of 2%? Give your answer as a decimal…

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Q: Suppose your salary in 2014 is $75,000 at the annual inflation rate is 6% what salary do you need to…

A: Given, Salary in 2014 = 75000 Inflation = 6%

Q: What annual compound interest rate is required for a debt of $21,853 to grow into $47,591 in 4…

A: Given: The principal amount is $21,853  and the final amount is $47,591  in 4 years. Formula used:…