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Personal finances

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Calculating future value if salary. During a job interview, Pam thompson is offered a salary of $28.000. The company gives annual raises of 6 percent. What would be Pam's salary during her fifth year on the job?

  • Personal finances - ,

    Pt = Po(1+r)^4.

    Pt = 28000(1.06)^4 = $35,349.35. = Salary at end of 4th year = Salary at
    beginning and during 5th yar.

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