Computed value | Computation formula | Issue | |
Capitalized cost of living at rate of 8% Continuous compounding | H(p) = 12 × 475 [e17×0.08−1]/0.08 | $206.354 | |
Yearly cost of labor of teenager | W = s × H(p) ≈ p × H(p) | $16.598 | |
Monthly cost of labor | MCL = W/12 | $1,.76 | |
Computed hourly cost of labor (HCL) | HCL = MCL/176 | $7.81 | |
The legal HCL increased by the employer pension | 7.25 × 1.062 | $7.70 | |
Family (2 + 2) revenues | |||
Doubled minimum wage | 2 × MCL | $2.752 | |
Minus contribution for pension fund (20%) and health care (10%) | 0.3 × 2.752USD | $1.926 | |
Cost of living per person | 1926 USD/4 | $481.60 | |
Detriment fund for 1 person after 43 years capitalized at rate of 3% | 12 × 275.2 × [(1+0.03)47−1]/0.03 | $331.549 | |