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You've just joined the investment banking firm of Dewey, Cheatum, and Howe. They've offered you two different salary arrangeme You can have $ 8 ,
You've just joined the investment banking firm of Dewey, Cheatum, and Howe. They've offered you two different salary arrangeme You can have $ per month for the next three years, or you can have $ per month for the next three years, along with a $ signing bonus today. Assume the interest rate is percent compounded monthly.
a If you take the first option, $ per month for three years, what is the present value?
Note: Do not round intermediate calculations and round your answer to decimal places, eg
b What is the present value of the second option?
Note: Do not round intermediate calculations and round your answer to decimal places, eg
a Value of first option
b Value of second option
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