Please provide step-by-step calculations along with excel formulas. You've just jolned the Investment banking...
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Please provide step-by-step calculations along with excel formulas.
You've just jolned the Investment banking firm of Dewey, Cheatum, and Howe. They've offered you two different salary arrangements. You can have $82,000 per year for the next two years, or you can have $71,000 per year for the next two years, along with a $27,000 signing bonus today. The bonus is pald Immediately, and the salary is paid in equal amounts at the end of each month. If the Interest rate is 9 percent compounded monthly, what is the value today of each option? (Do not round Intermedlate calculatlons and round your answers to 2 decimal places, e.g., 32.16.)
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Please provide step-by-step calculations along with excel formulas.