Suppose That Your Salary Will Increase by 2% Per Year

question 60

Multiple Choice

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

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