Offered you two different salary arrangements

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You’ve just joined the investment banking firm of Dewey, Cheatum, and Howe. They’ve offered you two different salary arrangements. You can have $6,900 per month for the next three years, or you can have $5,600 per month for the next three years, along with a $30,500 signing bonus today. Assume the interest rate is 8 percent compounded monthly. If you take the first option, $6,900 per month for three years, what is the present value? What is the present value of the second option?

Reference no: EM131515145

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