What is present value of the salary if the discount rate 6%

Reference no: EM13946016

Tom Adams has received a job offer from a large investment bank as a clerk to an associate banker. His base salary will be 60,000. He will receive his first annual salary payment one year from the day he begins to work. His salary will grow at 2% each year. if Mr. Adams is expected to work for 35 years, what is the present value of the salary if the discount rate 6%

Reference no: EM13946016

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