Assume that sam of problem receives an annual raise of 1200, Microeconomics

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Assume that sam of problem receives an annual raise of 1200

Qusetion: Assume that Sam (of Problem) receives an annual raise of $1200. Compared with Problem 3.64, how much less is his salary in year 10? Year 20? Year 30? Year 40?

Problem: Sam receives a starting salary offer of $30,000 for year 1. If he expects a 4% raise each year, what is his salary for year 10? Year 20? Year 30? Year 40? (Answer: F30 = $93,560)

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Microeconomics: Assume that sam of problem receives an annual raise of 1200

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