You get weekly checks of $50 from a part-time job (starting one week from now)....
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Accounting
You get weekly checks of $50 from a part-time job (starting one week from now). If the interest rate is 12% compounded daily: a) What is the present value of one year's salary (52 checks)? b) If you deposit each check in the bank, how much will you have after one year? c) If you deposit each check in the bank but quit your job after one year (and leave all the accumulated money in the bank), how much will you have in the bank at the end of year 2?
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