(Answered) You are about to graduate and you are wondering what is the

Finance

You are about to graduate, and you are wondering what is the present value of your future income. Your salary next year will be $85,000. You expect a 5% raise each year and the interest rate is 7%. Your plan is to retire in 32 years. What is the present value of your future income, rounded to the nearest dollar?

$2,323,623

$1,926,377

None of the answers above or below

$4,203,528

$1,072,417

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