A programmer starts with a salary of $50,000 and expects to receive a $3,000 raise each year. Write a recipe to compute and print the programmer's salary for each of the first 10 years.
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A programmer starts with a salary of $50,000 and expects to receive a $3,000 raise each...
John starts his career at 21 years old and expects to retire 44 years later at the age of 65. His first annual salary is $72,000 that will increase at 1.5% per year until he finishes his part-time MBA at 28 years old. With his MBA, John expects salary to increase at 3% per year until retirement. At the end of each year, he deposits 10% of his annual salary into a retirement saving plan that pays 6% interest per...
A manufacturing company expects sales of $50,000 in quarter one, increasing by $3,000 per quarter through year 3. Calculate the present worth of the sales through a 3-year period at an interest rate of 10% per year compounded monthly
An engineer expects to earn a $70,000 salary after she graduates. She anticipates that her salary will increase by an average of 4% each year until she retires 50 years later. If she deposits 10% of her salary into a retirement account at the end of each year, and the account earns 6% annual interest, how much will she have saved on the day she retires?
A forty-year-old employee earns $75,000 per year and expects to receive 2.5% annual raises at the end of each year for the next 25 years. The employee decides to contribute 4% of annual salary at the beginning of each year for the next 25 years into a retirement plan. How much will be available for retirement at age 65 if the fund can earn a 4% effective rate of interest?
Infrastructure Economics 5) A set of cash revenues starts at $50,000 in the first year and increases each year until no15 years. If the interest rate is 7% (compounded annually), what is the present value of the cash flows if: A. The annual increase is $5,000 per year B. The annual increase is 10% per year 6) An investment of $10,000 is deposited in a bank account which pays 9% annual interest compounded monthly. How much will be in the...
Teachers in most school districts are paid on a schedule that provides a salary based on their number of years of teaching experience. For example, a beginning teacher in the Lexington School District might be paid $30,000 the first year. For each year of experience after this first year, up to 10 years, the teacher receives a 2% increase over the preceding value. Write a program that displays a salary schedule, in tabular format, for teachers in a school district....
Jim and Pam formed a partnership to open a paper company by investing $70,000 and $50,000, respectively. They agreed to share profit and losses by allowing a $5,000 annual salary allowance to Jim and a $1,500 annual salary allowance to Pam. As well, each partner is to receive an interest allowance equal to a 10% return on initial capital investments, and the balance is to be divided 70% to Jim and 30% to Pam. At the end of the first...
You are planning for your future needs and retirement. You want to receive $50,000 five years from today and retirement annuity of $100,000 per year for 25 years with the first payment 10 years from today. To pay for this, you will make 5 payments of $A per year beginning today and 10 annual payments of $A with the first payment 8 years from today. With an interest rate of 8%, what is the value of A?
Crazy Cliff’s Car Coral (CCCC) is considering buying a company van for $50,000. CCCC expects the van to last 5 years and be disposed of at the end of 5 years for $5,000. CCCC will fully depreciate the van over 5 years using straight-line depreciation. CCCC expects the van to increase sales by $30,000 per year over the life of the van. CCCC also expects maintenance costs to be $4,000 per year. CCCC’s tax rate is 25% and its cost...
This question uses matlab R2018a Retirement.m is -> function [MyCont, CompCont, Total] = retirement(salary) if salary <= 30000 MyCont = 0.1 * salary; CompCont = 0.1* salary; elseif salary <= 60000 MyCont = 0.1*salary; CompCont = 0.1 * 30000 + 0.05 * (salary - 30000); elseif salary <= 100000 MyCont = 0.1*60000 + 0.08 * (salary-60000); CompCont = 0.1*30000 + 0.05*30000; else MyCont = 0.1*60000 + 0.08 * 40000; CompCont = 0; end Total = MyCont + CompCont; ...