An employee has been offered a 5 year contract for a position at a company.Assume, initalliy that the salary is paid only at end of year and the interest rate is 0.375% bimonthly
a) You estimated that your living expenses to be $3,400 per bimonthly pay period(two times a month). What minimum annual salary would you need to receive (assume you are paid bimonthly payments(two times a month)) to cover these expenses, assuming the interest rate stays the same?