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The problem you're working on asks to calculate the salary needed in 2022 to keep up with inflation, given that:

- The salary in 2015 is $55,000
- The annual inflation rate is 2%
  
To solve this, we can use the formula for inflation adjustment:

\[
\text{New Salary} = \text{Old Salary} \times (1 + \text{inflation rate})^n
\]

Where:
- Old Salary = \$55,000
- Inflation rate = 2% = 0.02
- $n$ = Number of years from 2015 to 2022 = 2022 - 2015 = 7

Let's calculate the new salary for 2022.The adjusted salary needed in 2022 to keep up with inflation is approximately **$63,177.71**.

Would you like more details on how this was calculated or have any further questions?

Here are 5 related questions to deepen your understanding:
1. How does a higher inflation rate affect salary adjustments over time?
2. What would your salary be in 2030 if the inflation rate stays at 2%?
3. How do you calculate inflation adjustment if the rate changes each year?
4. How does inflation impact savings versus salary adjustments?
5. What happens to purchasing power if salary increases do not match inflation?

**Tip:** Always round your final result to two decimal places when dealing with money to ensure accuracy in financial calculations.

Suppose your salary in 2015 is $55,000. If the annual inflation rate is 2%, what salary do you need to make in 2022 in order for it to keep up with inflation? Round your answer to the nearest cent, if necessary.

Learn how to calculate the adjusted salary to account for a 2% annual inflation rate from 2015 to 2022. Understand the formula for inflation adjustment and how to apply exponential growth to real-life financial scenarios.

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