Joe Graduated in Engineering 5 years ago. His Employer will give him a raise of $8,000...

 

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Joe Graduated in Engineering 5 years ago. His Employer will give him a raise of $8,000 per year if he passes the PE exam. (10 pts (5 pts ea.)) a) Over a 30-year career, what is the present worth of the raise if the interest rate is 7%? b) What is the future worth at 30 years? Use both, the tables, and a spreadsheet to calculate each answer. Joe Graduated in Engineering 5 years ago. His Employer will give him a raise of $8,000 per year if he passes the PE exam. (10 pts (5 pts ea.)) a) Over a 30-year career, what is the present worth of the raise if the interest rate is 7%? b) What is the future worth at 30 years? Use both, the tables, and a spreadsheet to calculate each answer.

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