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What is the present value of his lifetime salary

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Reference no: EM132810992

Question - John Gabriel, a second-year MBA student, has just been offered a job at $80,000 a year. He anticipates that his salary will increase by 3% a year until his retirement in 40 years. If the interest rate is 5%, what is the present value of his lifetime salary?

A. $2,105,679.48

B. $2,210,963.46

C. $2,146,566.46

D. $2,761,125.46

E. None of the above.

Reference no: EM132810992

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