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Present value. You are currently in the job market. Your dream is to earn a six-figure salary ($100,000). You hope to accomplish this goal within the next 22 years. In your field, salaries grow at 3% per year. What starting salary do you need to reach this goal? What starting salary do you need to reach this goal? Round to the nearest cent.)

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Answer #1

PV = $100,000 × (1/(1+0.03)22

PV = $100,000 × 0.5218925

PV = $52,189.25   

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