document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1069117>Question 1069117</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I want to be earning an annual salary of $100,000 when I retire in 19 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.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #684349 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=684349\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=Ao(1+.04)^19<BR>\n" );
document.write( "100,000=1.04^19* Ao<BR>\n" );
document.write( "100,000/(1.04^19)=$47464.24<BR>\n" );
document.write( "This is a little more than doubling over 19 years<BR>\n" );
document.write( "the Rule of 70 would predict doubling time in 17.5 years (70/rate in per cent), so this is reasonable. </SPAN>\n" );
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