What is the present value of that job

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An incoming engineering student (age 18) expects to get a job that pays $53700 per year starting four years from now, and can reasonably expect that that salary will increase at a rate of 3.6% per year throughout his career. If he is planning to retire at age 64, what is the present value of that job? Assume an interest rate of 6% per year.

Reference no: EM13733331

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