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Author Question: Find the salary in 2005 dollars that would be equivalent to a $50,000 salary in 2016. Assume an ... (Read 239 times)

Mr3Hunna

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on: May 5, 2020

Question 1

Suppose you deposited $5000 on January 1, 2014, in a savings account paying 5% annual interest, with interest credited to the account on December 31 of each year. On January 1, 2016, the annual interest rate changes to 4.25%. What will be the balance in your account on January 1, 2030?
◦ none of these
◦ $9903.42
◦ $9469.73
◦ $8713.35
◦ $9872.19

Question 2

Find the salary in 2005 dollars that would be equivalent to a $50,000 salary in 2016. Assume an average annual inflation rate of 2% between 2005 and 2016. Round your answer to the nearest cent.
◦ $42,025.50
◦ $38,107.24
◦ $39,568.35
◦ $40,213.15
◦ $41,017.41
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Marked as best answer by Mr3Hunna on May 5, 2020

meltdown117

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Reply #1 on: May 5, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Mr3Hunna

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Reply 2 on: May 5, 2020
Great answer, keep it coming :)

hollysheppard095

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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