(Solution) - Ian Fleming has just received a job offer of 55 000 -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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Ian Fleming has just received a job offer of $55,000 salary per year plus overtime pay, which will amount to 10% of his salary. Ian estimates his living costs as follows:

Required:
1. Prepare a budget for the year. Assume Ian starts his job on January 1.
2. Is Ian?s offer sufficient to meet his projected expenses?
3. Ian has always dreamed of going to Africa to photograph wildlife. The trip will cost $8,000.
How long will it take Ian to save for the trip? (Ignore interest earnings, and assume that
Ian will not use his retirement savings for thistrip.)