Problem 2-3 Calculating Future Value of Salary [LO2-3]
During a job interview, Pam Thompson is offered a salary of $49,000. The company gives annual raises of 5 percent. What would be
Pam's salary during her fifth year on the job? (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)
Note: Use the appropriate factor(s) from the tables provided. Round time value factor to 3 decimal places and final answer to the
nearest whole number.
Pam's salary in fifth year
