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What is the present value of the offer

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Point 1: Tom Adams has received a job offer from a large investment bank as a clerk to an associate banker. His base salary will be $61,000. He will receive his first annual salary payment one year from the day he begins to work. In addition, he will get an immediate $10,000 bonus for joining the company. His salary will grow at 4.1 percent each year. Each year he will receive a bonus equal to 10 percent of his salary. Mr. Adams is expected to work for 25 years.

Question 1: What is the present value of the offer if the discount rate is 9 percent?

Reference no: EM132490951

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