You have just been hired by a large software company. It offered you a very competitive annual salary for the next three years:

Beginning of year 1 (i.e., today) You will be immediately paid $63,000 as a lump sum for the first year of your work.

Beginning of year 2 (i.e., 1 year from today) You will be pre-paid $67,000 as a lump sum for the second year of your work.

Beginning of year 3 (i.e., 2 years from today) You will be pre-paid $79,000 as a lump sum for the third year of your work.

You are planning to deposit these right away into a special bank account that offers 3% interest, and keep it all there for a while without taking any money out. 

How much TOTAL money will you have in this bank account 5 years from today?

Answer rating: 100% (QA)

To calculate the total amount of money you will have in the bank account after 5 years we need to ac... View the full answer