What is the equivalent annual worth of this bonus

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Reference no: EM13815509

A supermarket wants to allocate 1.75% as bounce to reward the hardworking employees from the total that will be made annually. The sales are expected to be $250,180 in the first year and $262,180 in the second year. The amount increases each year by 5% for the coming 14 years. If the interest rate was 8% per year, what is the equivalent annual worth of this bonus in years 1 to 14?

Reference no: EM13815509

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