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After graduation, you plan to work for Excel Corporation for 12 years and then start your own business. You expect to save and deposit $7,500

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After graduation, you plan to work for Excel 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 $32,500 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 12 years from now? O $286,936 $292,914 O O $269,003 $298,892 O $279,188

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