You are beginning a new job. Your employer gives you the choice of two salary options. Option 1: You earn yearly payment of

Question

You are beginning a new job. Your employer gives you the choice of two
salary options.
Option 1: You earn yearly payment of $39,368 that increases by $1,010 every year.
Option 2: You earn yearly payment of $39,368 that increases by 2.6% compounded annually.
How much money would you make after 17 years if you chose the linear payment? Do not include the dollar sign in your answer. Round to the nearest cent.

Kunduz · Accepted Answer

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