Question
Marcel has just graduated from college and has found a job that will pay him $35,000 per year at the end of each year, but
Marcel has just graduated from college and has found a job that will pay him $35,000 per year at the end of each year, but the job is only for 7 years. He is not worried about that because he plans to do an MBA after gaining 7 years experience anyway. What is the value today of his 7-year salary assuming that the interest rate is 3%?
A) $218,059.90
B) $245,000.00
C) $199,207.42
D) $239,804.59
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Fundamentals of Corporate Finance
Authors: Stephen M. Ross, Randolph W Westerfield, Robert R. Dockson, Bradford D Jordan
12th edition
007353062X, 73530628, 1260153592, 1260153590, 978-1260153590
