Question
On January 1, Jack Ferguson signed a three-year contract to work for a computer software company. He will be paid $5,000 at the end of
On January 1, Jack Ferguson signed a three-year contract to work for a computer software company. He will be paid $5,000 at the end of each month. He will also get an immediate $30,000 bonus for joining the company. What is the present value of the contract if the stated annual interest rate is 9.6 percent? Please show work.
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Essential Mathematics For Economic Analysis
Authors: Knut Sydsaeter, Peter Hammond, Arne Strom
4th Edition
0273760688, 9780273760689
