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How much will need annually to live on

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Problem 1: Simple calculations for inflation use the same formulas as compound interest. For example, 3% inflation is similar to compounding at 3% interest. Using your current salary of $70,000, how much you will need annually to live on, forecast what that will be when you retire after 35 years of working if you assume annual inflation of 3.0%.

Reference no: EM132819572

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