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Jones receives a starting salary offer of $70k for Year 0. Inflation is assumed to be 4% per year.a. What must Jones salary be in

Jones receives a starting salary offer of $70k for Year 0. Inflation is assumed to be 4% per year.a. What must Jones salary be in Year 10 to have the same purchasing power?b. Assuming Jones get an annual 5% raise, what will be Jones salary in Year 10?c. What is the interest rate in excess of inflation that Jones is realizing?

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