Victor is somewhat satisfied with his sales career and has always wondered about a career as a teacher in a public school. He would have to take a year off work to go back to college to obtain his teaching certificate, and that would mean giving up his $52,000 salary for a year. Victor expects that he could earn about the same income as a teacher. Round your answers to the nearest dollar. 1. What would his annual income be after 10 years as a teacher if he received an average 3 percent raise every year? Round Future Value of a Single Amount in intermediate calculations to four decimal places.
Victor is somewhat satisfied with his sales career and has always wondered about a career as a teacher in a public school. He would have to take a year off work to go back to college to obtain his teaching certificate, and that would mean giving up his $52,000 salary for a year. Victor expects that he could earn about the same income as a teacher. Round your answers to the nearest dollar.
1. What would his annual income be after 10 years as a teacher if he received an average 3 percent raise every year? Round
2.
Step 1
Future value is the usefulness of money or an asset at a specific future time. It illustrates how much a current asset would increase in value over time.
Step by step
Solved in 3 steps with 2 images
