What is the present value of the salary

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Reference no: EM131328118

Please show work and excel formulas if applicable.

1. Your first job pays your $45,000 first year, $48,000 second year and $49,000 third year. Then you switch to another job and make $53,000 in the first year. Your pay increases by 4% for the next six years (10 years total). a. What is your salary in the 10th year? b. The Government tells you that the inflation is on average 2.3%. What is the Present Value (PV) of the salary you make in the 10th year? c. What is the PV if the inflation is 5%.

Reference no: EM131328118

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