How much is the total contract worth

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Reference no: EM131839769

Amjencio is ready to hire you for a first year salary of $56,000 (assume an inflow of this at the end of year 1) with a guaranteed increase of 2.5% every year for a 35-year contract. How much is the total contract worth at the end of the 35-year term at a 7% interest rate, compounded yearly? Over $1.4 million Over $6.7 million Over $9.5 million Over $10.3 million.

Reference no: EM131839769

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