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After graduation you plan to work for Dynamo corp for 12 years and then start your own business. You expect to save and deposit 7500 a year for the first six years t 1 through 6 and 15000 annual

After graduation, you plan to work for Dynamo corp. for 12 years and then start your own business. You expect to save and deposit 7,500 a year for the first six years (t=1 through=6) and 15,000 annually for the following 6 years (t=7 through t=12). The first deposit will be made a year from today. In addition your grandfather just gave you a 25,000 graduation gift which you will deposit immediately(t=0). If the account earns 9% compounded annually, how much will you have when you start your business 12 years from now?

Jun 18 2020 View more View Less

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