The following template estimates how your future salary will grow over time, based on different assumptions regarding your annual percentage raise $(1\%$ in the second column, $5\%$ in the third column, and $10\%$ in the fourth column$).$ Your Occupation

b$.$ How much larger will your expected annual salary be in five years $($third row$)$ if your annual percentage raise is $10\%($fourth column$)$ versus $1\%($second column$)?$

My salary would be

This table illustrates the power of compounding. The size of your raise can have a major impact on your

Index

Chapter $1$

Chapter $2$

Chapter $3$

Chapter $4$

Chapter $5$

$48$ b$.$ How much larger will your expected annual salary be in five years $($third row$)$ if your annual percentage raise is $10\%($fourth column$)$ versus $1\%($second column$)?$

My salary would be

This table illustrates the power of compounding. The size of your raise can have a major impact on your future salary.

c$.$ In the fifth column, the expected annual percentage raise $($second row$)$ is blank, allowing you to insert your own guess of the specific annual raise you will earn on average. The online version of the template will display estimates of your future annual salary once you insert your expected annual percentage raise in the second row of the fifth column.

Based on the expected annual percentage raise that you input in the second row of the fifth column, what is your expected annual salary ten years after you begin your occupation? $[$See the fourth row of column five to obtain your answer.$]$

d$.$ Based on the expected annual raise that you input in the second row of the fifth column, what is your expected annual salary twenty$-$five years after you begin your occupation? $[$See the seventh row of column five to obtain your answer.$]$

$2.$ Determining How Much You Need to Save Per Year to Become a Millionaire.

YEARLY SALARY IS $68$k