You receive two job offers in the same big city. The first job is close to...
You receive two job offers in the same big city The first job is close to your parents' house and they have offered to let you live at home for a year so you won't have to incur expenses for housing food or cable and internet. This job pays $45 000 per year. The second bis a way from your parents' house, so you have to rent partment with parking (511 000 per year buy your own food (54 000...
Your job pays you once a year for all the work you did over the previous 12 months. Today, December 31st, you received your salary of $55,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 9% of your annual salary in an account that will earn 10% per year. Your salary will increase at 3% per year...
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $46,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 2 percent of your annual salary in an account that will earn 9 percent per year. Your salary will increase...
Your job pays you only once a year, for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $67,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 10 percent of your annual salary in an account that will earn 10.7 percent per year. Your salary will increase...
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you received your salary of $68,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 10 percent of your annual salary in an account that will earn 10.8 percent per year. Your salary will increase at...
2. Suppose once you graduate you get two job offers, one in Austin and another in Miami. The job in Austin pays annual salary of $110,000 and the job in Miami pays $108,000. You look up CPI tables published by BLS and find out that CPI in Austin area in 2020 is 215 and CPI in Miami area in 2020 is 230. a. You like Miami more than Austin but the pay is an important decision variable as well. Considering...
It is May 28 and you have just gotten a summer job that will pay you (net of taxes) $800 per month. You start June 1 and will work until school starts - halfway through August. Your scholarship pays for tuition, room and board. But you must buy books, pay for transportation to and from school, and pay for clothing, any extra meals, entertainment, and so on. You have gathered the following data: One round trip airline ticket is $260,...
Your first job out of college will pay you $73,000 in year 1 (exactly one year from today). You estimate that your salary will grow at 6% per year. You plan to retire in 37 years (you'll receive 37 years of salary). If the applicable discount rate is 9%, what is the present value of these future earnings today? Round to the nearest cent.
When you land your first engineering job, you open a retirement account that will pay 6% interest each year. You plan to deposit 5% of your annual salary into the account. Your first years salary is $67,000, and you expect your salary to grow 3% each year. A) How much will be in your account after 40 years? B) What will be your final contribution in year 40?
You are offered a job that pays $30,000 for the first year with an annual increase of 5% per year beginning in the second year. That is, beginning in year 2, your salary will be 1.05 times what it was in the previous year. What can you expect to earn in your sixth year on the job? Round to the nearest dollar.