Salary x 1.04 = Next year’s salary
Financial Algebra – 10-year Budgeting Project
(Yearly salary x .8)/12 = Monthly Pay
Monthly bills x 1.02 = next year’s monthly bills
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Salary
57200 59488
61867.52
64342.22 66915.91 65952.55 72376.25 75271.30 78282.15
Monthly Pay 3813.33
3965.87 4124.50 4289.48
441.06 4639.50
4825.08 5018.09
5218.81
Monthly Bills 3641.23 3714.05
3788.33 3864.10 3941.38 4020.21 4100.61 4182.62
4266.27
Savings 172.10 251.82
336.17
519.68 519.68 619.29 724.47 835.47 952.54
Difference
+81.72 +84.35
+89.21 +94.30
+99.61 +105.18 +111.00
+117.07