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After graduation, you plan to work for ABC Inc. for 10 years and then start your own business. You expect to save and deposit $5,500
After graduation, you plan to work for ABC Inc. for 10 years and then start your own business. You expect to save and deposit $5,500 a year for the first 6 years (t = 1 through t = 6) and $11,000 annually for the following 4 years (t = 7 through t= 10). The first deposit will be made a year from today. In addition, your grandfather just gave you a $30,500 graduation gift which you will deposit immediately (t = 0). If the account earns 7% compounded annually, how much will you have when you start your business 10 years from now? $160,408 $149,914 Ob. O c. $171,637 $259,719 O d. $312,955
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