Engineering graduates earn $880,000 more than the average Liberal Arts BA holder in a career. Assume the $880,000 is a lump-sum equivalent at the end of a 30-year career. How much extra does the engineering grad earn per year if the interest rate is 8% per year? The engineering grad earns extra $ ? per year.

Engineering graduates earn $880,000 more than the average Liberal Arts BA holder in a career. Assume the $880,000 is a lump-sum equivalent at the end of a 30-year career. How much extra does the engineering grad earn per year if the interest rate is 8% per year? The engineering grad earns extra $ ? per year.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 11E

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