You are offered two jobs. One initially pays $100,000 annually, and your salary will grow annually at 11.5%. The other pays pays $97,000 annually, but your salary will grow at 12%. After ten years, which job pays the higher salary?© BrainMass Inc. brainmass.com June 4, 2020, 12:30 am ad1c9bdddf
Future value interest factor =FVIF= (1+i)^n
i = rate; n = number of years
Initial amount = $100,000; ...
In today's economy being offered one job is exciting. However, one the off chance, you are offered two positions when interviewing, how would you know which job to take? The following examples and solution provide you with an answer to your dilema.