Answer to Question #77221 in Engineering for Fami

Question

1. an IE consultant for the World Bank you are earning an average annual salary of 5 million for 10 years. A private company would like to acquire your services and offers you an initial salary of 3 million but is increasing at the rate of 400,000 annually. If money is worth 10%, are you going to accept the offer. (Draw the cash flow diagram)

2. A man makes a series of 10 annual deposits starting at 2000 at the end of the first year and increasing the amount deposited by 10% every year thereafter. Find the total amount at the end of ten years if the rate of interest on all sums on deposit is 8%. (Draw the cash flow diagram)

Answer 1

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