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Wei Ming is 2 5 years old graduating from NTU with a business degree. According to Singapore Department of Statistics ( DOS ) , the
Wei Ming is years old graduating from NTU with a business degree. According to Singapore
Department of Statistics DOS the average accumulated savings of Singaporeans from to
years old, and Wei Ming's respective savings targets are shown in Table
Table
DOS's average accumulated savings and Wei Ming's targeted savings
In Table average accumulated savings is calculated based on of Singaporeans' average
monthly salary. However, Wei Ming's target savings is of his monthly salary. Assume
Singaporeans start working from years old.
Required:
a Compute the average monthly salaries of Singaporeans at different ages from to
years old to achieve their average accumulated savings. Assume no interest rate.
marks
b Compute Wei Ming's expected monthly salaries to achieve his accumulated
savings targets from to years old. Assume no interest rate.
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