I want to be earning an annual salary of $100,000 when I retire in 21 years. I have been offered a job that guarantees an annual salary increase of 4% per year, and the starting salary is negotiable. What is the lowest salary that I should request in order to meet my goal?

Pavukol

Pavukol

Answered question

2022-09-10

I want to be earning an annual salary of $100,000 when I retire in 21 years. I have been offered a job that guarantees an annual salary increase of 4% per year, and the starting salary is negotiable. What is the lowest salary that I should request in order to meet my goal?

Answer & Explanation

ignaciopastorp6

ignaciopastorp6

Beginner2022-09-11Added 14 answers

Answer:
p v = t v ( 1 + r / m ) m t p v = 100000 ( 1 + 0.04 1 ) 1 × 21 p v = 43883.36021 p v = 43883.36

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