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Mary is hired by ABC Company on 1 / 1 / 8 5 . She is eligible to qualify for the company's new hire bonus
Mary is hired by ABC Company on She is eligible to qualify for the company's new hire bonus program. If an employee qualifies at yearend, she will receive a cash bonus payable in two equal installments, half on January and half on July
The firstyear bonus is $ and increases by $ each year. Assuming Mary qualified each year ie she received her first payments on and deposited her bonus in an account that pays an annual effective rate of interest, what is the accumulated value of her bonus payments through
A Less than $
B At least $ but less than $
C At least $ but less than $
D At least $ but less than $
E At least $
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