2. financial aspects of employment\ndarnell and bonnie are in their sixties and are ready to retire. their…

2. financial aspects of employment\ndarnell and bonnie are in their sixties and are ready to retire. their children are grown and are supporting themselves, and darnell and bonnie have saved for many years in order to be able to enjoy their retirement. they currently live in tampa, and based on their recent spending, they estimate that they will need $70,000 annually for expenses. darnell and bonnie are interested in downsizing and are considering a move to either san francisco or atlanta.\ncompare the two choices assuming the city indices are:\nsan francisco: 135\ntampa: 126\natlanta: 103\nconsider the following scenarios and answer the questions that follow.\nnote: round your answers to the nearest whole dollar.\nsan francisco\ndarnell and bonnies oldest daughter and their grandchildren live in san francisco. they like the area but are concerned about the cost of living.\nwhat amount will darnell and bonnie need on an annual basis to maintain their lifestyle in san francisco?

2. financial aspects of employment\ndarnell and bonnie are in their sixties and are ready to retire. their children are grown and are supporting themselves, and darnell and bonnie have saved for many years in order to be able to enjoy their retirement. they currently live in tampa, and based on their recent spending, they estimate that they will need $70,000 annually for expenses. darnell and bonnie are interested in downsizing and are considering a move to either san francisco or atlanta.\ncompare the two choices assuming the city indices are:\nsan francisco: 135\ntampa: 126\natlanta: 103\nconsider the following scenarios and answer the questions that follow.\nnote: round your answers to the nearest whole dollar.\nsan francisco\ndarnell and bonnies oldest daughter and their grandchildren live in san francisco. they like the area but are concerned about the cost of living.\nwhat amount will darnell and bonnie need on an annual basis to maintain their lifestyle in san francisco?

Answer

Explanation:

Step1: Set up proportion

Let $x$ be the amount needed in San Francisco. The ratio of the city - index of San Francisco to the city - index of Tampa is equal to the ratio of the amount needed in San Francisco to the amount needed in Tampa. The formula is $\frac{\text{San Francisco index}}{\text{Tampa index}}=\frac{x}{\text{amount in Tampa}}$.

Step2: Substitute values

We know that the San Francisco index is 135, the Tampa index is 126, and the amount needed in Tampa is $70000$. So, $\frac{135}{126}=\frac{x}{70000}$.

Step3: Solve for $x$

Cross - multiply: $126x = 135\times70000$. Then $x=\frac{135\times70000}{126}$. Calculate $135\times70000 = 9450000$, and $x=\frac{9450000}{126}=75000$.

Answer:

$75000$