Twin brothers, Collin and Cameron, get jobs immediately after graduating from college at the age of 22.
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Twin brothers, Collin and Cameron, get jobs immediately after graduating from college at the age of 22. Collin opts for the higher starting salary, $55,000, and stays with the same company until he retires at 65. His salary doubles every 15 years. Cameron opts for a lower starting salary, $35,000, but moves to a new job every 5 years; he doubles his salary every 10 years until he retires at 65. What is the annual salary of each brother upon retirement?
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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