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Question 3 (20 marks) After graduating your best friend Trevor has, received multiple job offers from top Canadian Banks CIBC and Bank of Nova Scotia.
Question 3 (20 marks) After graduating your best friend Trevor has, received multiple job offers from top Canadian Banks CIBC and Bank of Nova Scotia. These firms truly appreciated Trevor's work ethic as well as the honesty displayed by never cheating or plagiarized during their studies. CIBC has offered you a salary structure whereby you will receive $180,000 at the end of each year for the next two years. Bank of Nova Scotia has offered you a salary structure whereby you will receive $170,000 at the end of each year for the next two years, plus a $19,000 signing bonus to be paid immediately. The interest rate is 8% compounded monthly. Which Bank offers Trevor the better salary structure, and by how much? Show all your work
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