Luke Anderson is earning $12,000 a year in a city located in the Midwest. He is...
Luke Anderson is earning $12,000 a year in a city located in the Midwest. He is interviewing for a position in a city with a cost of living 12 percent higher than where he currently lives. What is the minimum salary Luke would need at his new job to maintain the same standard of living?
Homework Answers
minimum salary = current salary * (1+ rate of increase)
= 12000 * (1+12%)
= 13440
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