salary of $$70,000$ per year. Moreover, you expect your salary to grow by $9$ percent per year until you retire $37$ years later.

year.

to work as a lawyer. $($Hint: assume that you are paid at the end of each year so that your first salary payment if you decide to go to law school occurs $4$ years from now.$)$

c$.$ If you pay your law school tuition at the beginning of each year, what is the present value of your tuition, assuming a discount rate of $3$ percent?

a$.$ What is the present value of the future earnings that you will realize by going directly to work, assuming a discount rate of $3$ percent?

$9($Round to the nearest cent.$)$

b$.$ What is the present value today of your future earnings if you decide to attend law school, assuming a discount rate of $3$ percent?

$($Round to the nearest cent.$)$

c$.$ If you pay your law school tuition at the beginning of each year, what is the present value of your tuition, assuming a discount rate of $3$ percent?

$$($Round to the nearest cent.$)$