Question: It's my first time doing such questions, so please explain in detailed steps with each and every formula used - Gilles Lebouder has just been

It's my first time doing such questions, so please explain in detailed steps with each and every formula used

- Gilles Lebouder has just been offered a job at $50,000 a year. He anticipates his salary will increase by 5% a year until his retirement in 40 years. Given an interest rate of 8%, what is the present value of his lifetime salary

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