If we assume that the interest rate is 4%. And the inflation will be 3%. The salary is $40,000 and the time period is 25 years. What is the future value of the salary in 25 years? Please show the calculations. Will this amount be enough to live on in 25 years?
Future Value of Salary
No of years= 25
Interest rate= 4%
Amount at the end of 25 ...
The solution calculates the future value of the salary in 25 years.