Junior Ltd Employs Three Workers to Develop and Test Games

Junior Ltd employs three workers to develop and test games.The employees are currently earning $30 000 each and are expected to cease their employment in 20 years.At the end of their employment each employee is entitled to a lump sum payment equal to 10% of their final salary.Actuarial analysis suggests salaries will increase evenly at a rate of 5% per year over the 20 years.In 5 years' time,what total benefit will the three employees have accrued (rounded to the nearest dollar) ?

A) $114 865
B) $23 899
C) $165 000
D) $119 399

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