twilightmist112
Answered

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Illinois

$58,000

California

$70,000

Oregon

$64,000

Suppose you are earning a salary of $62,000 per year in Illinois. Your employer asks you to transfer to the California office. Based on the average annual cost of living, what is the lowest possible salary you will accept? Round your answer to the nearest whole dollar. Explain your reasons.

Sagot :

sqdancefan

9514 1404 393

Answer:

  $74,828

Step-by-step explanation:

We assume the numbers in the problem statement here mean the cost of living index is $58,000 in Illinois and $70,000 in California. That means the costs in California are 70/58 = 35/29 times those in Illinois.

In order to maintain the same relative lifestyle, you would need to earn (35/29) times $62,000 in California, or ...

  (35/29)×$62,000 ≈ $74,828 . . . . acceptable CA salary

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