Suppose that your salary will increase by 2% per year over the next 4 years. If annual interest rate is also 2% over this period, what is the geometric series to present worth conversion factor in this case?
A)4.08
B)4.00
C)3.92
D)3.56
E)3.22

Question

Quizplus · Accepted Answer

The Answer of Suppose that your salary will increase by 2% per year over the next 4 years. If annual interest rate is also 2% over this period, what is the geometric series to present worth conversion factor in this case?
A)4.08
B)4.00
C)3.92
D)3.56
E)3.22

Suppose That Your Salary Will Increase by 2% Per Year