Each tyre of a car has an area of 100 cm2 in contact with the ground. The car has a mass of 1600 kg. The weight of the car is eq
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Annual salary(2012) = $70,000
Annual inflation = 7%
Therefore, the salary you need to earn in 2020 in order to have the same purchasing power can be calculated below
where
n = 8
r = 7/100 = 0.07
PV = 70, 000
The salary you need to earn in 2020 to have the same purchasing power = $120, 273.03