SOLUTION: I want to be earning an annual salary of $100,000 when I retire in 14 years. I have been offered a job that guarantees an annual salary increase of 4% per year, and the starting sa

SOLUTION: I want to be earning an annual salary of $100,000 when I retire in 14 years. I have been offered a job that guarantees an annual salary increase of 4% per year, and the starting sa

Algebra.Com

Question 909030: I want to be earning an annual salary of $100,000 when I retire in 14 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? (Round your answer to the nearest cent.)
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
100,000 = I(1.04)^10
100,000/(1.04)^10 = $67,556.42 beginning
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