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Please show work. Mr. Grantco was offered two jobs. The first job is to work for the State of Oklahoma. He'll earn a beginning pay
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Mr. Grantco was offered two jobs. The first job is to work for the State of Oklahoma. He'll earn a beginning pay of $45K per year with expected raises of 2%. The other job is as a High School German Teacher. This job has an initial pay of $25K. The salary is expected to increase by 9% per year. He expects to work for 50 years. The discount rate for the State job is 10% and for the High School German Teacher position is 12%. Which job should Mr. Grantco take? (Show your Work)Step by Step Solution
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