Question: I need some help breaking down the calculations for this question: Aerospace contractor has four employees whose combined salaries through the end of this year

I need some help breaking down the calculations for this question:

Aerospace contractor has four employees whose combined salaries through the end of this year are

$250,000. If the contractor expect to give an average raise of 5% each year, calculate the present worth

of the employees' salaries over the next 5 years. Let i=12% per year

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