Question
In: Finance
You just graduated and you plan to work for 10 years and then to leave for...
You just graduated and you plan to work for 10 years and then to leave for the Australian “Outback” bush country. You figure you can save $1,118 a year for the first 5 years and $2,180 a year for the next 5 years. These savings cash flows will start one year from now. In addition, your family has just given you a $4,797 graduation gift. If you put the gift now, and your future savings, when they start, into an account that pays 8.0% compounded annually, how much will you have when you leave for Australia 10 years from now? (Round answer to 2 decimal places. Do not round intermediate calculations).
Solutions
Expert Solution
how much will you have when you leave for Australia 10 years from now?
$32782.67
Please dont forget to upvote
jeff jeffy answered 1 year agoRelated Solutions
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