223.1
1. When Bill Clinton left office, he got a $150,000 per year pension for
life. His salary while in office was approximately $200,000 per
year. For this question, assume annual payments and an interest
rate of 8%, compounded annually. Assume he stays in office for 8
years and he expects to live for 30 years after leaving office.
What was the total value of his compensation at the beginning of
his presidency, one year before his first paycheck?