Your first job pays your $45,000 first year, $48,000 second year and $49,000 third year. Then you switch to another job and make $53,000 in the first year. Your pay increases by 4% for the next six years (10 years total).

A) What is your salary in the 10^th year?

B) The Government tells you that the inflation is on average 2.3%. What is the Present Value (PV) of the salary you make in the 10^th year? (5 PTS)

C) What is the PV if the inflation is 5%?