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Q2. Dylan just found a new job and he is starting to work today. Assume that the new job pays $1,000 a month in the
| Q2. Dylan just found a new job and he is starting to work today. Assume that the new job pays $1,000 a month in the beginning of each month (meaning that Dylan receives the first pay check today). The annual interest rate is assumed to be 12%. What is the present value of Dylan's total salary in the first year of work (12 months)? |
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M Finance
Authors: Marcia Cornett, Troy Adair, John Nofsinger
3rd Edition
0077861779, 978-0077861773
