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Deposit Savings Assignment

Author:
February 19th, 2020

After graduation, you plan to work for Huntsman Corporation for 10 years and then start your own business. You expect to save and deposit $10,000 a year for the first 5 years (t = 1 through t = 5) and $15,000 annually for the following 5 years (t = 6 through t = 10). The first deposit will be made a year from today. In addition, your grandfather just gave you a $50,000 graduation gift which you will deposit immediately (t = 0). If the account earns 8% compounded annually, how much will you have when you start your business 10 years from now?

$130,687.67

$282,144.88

$170,536.22

$313,653.44

$310,848.11. Get Finance homework help today

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