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What will be your annual salary twelve years from now

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Q1. Today, you earn a salary of $54,000. What will be your annual salary twelve years from now if you earn annual raises of 3.4 percent?

Q2. You hope to buy your dream car three years from now. Today, that car costs $63,400. You expect the price to increase by an average of 3.1 percent per year over the next three years. How much will your dream car cost by the time you are ready to make the purchase?

Q3. Your father invested a lump sum 25 years ago at 3.15 percent interest. Today, he gave you the proceeds of that investment which totalled $61,372.47. How much did your father originally invest?

Reference no: EM132504674

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