Instructions: Please submit your assignment via file exchange in the coursework section of the myumary course website. You may submit in a Word or Excel file. You may use formulas, financial calculators, or Excel to perform the calculations. If you use a financial calculator, document the inputs used to arrive at the answer (e.g., N=3, I/Yr=5, PV=-100, PMT=0). If you use an Excel spreadsheet, submit your Excel file. If you use formulas, show your calculations. 15. After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 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?
Paper#1088 | Written in 18-Jul-2015Price : $25