ODS 333-Youâve just joined the investment banking firm of Dewey
Youâve just joined the investment banking firm of Dewey, Cheatum, and Howe. Theyâve offered you two different salary arrangements. You can have $6,100 per month for the next two years, or you can have $4,800 per month for the next two years, along with a $25,000 signing bonus today. Assume the interest rate is 7 percent compounded monthly.Requirement 1:If you take the first option, $6,100 per month for two years, what is the present value? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Present value$ Requirement 2:What is the present value of the second option? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Present value
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