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I am looking how to calculate this question. After graduation, you plan to work for 15 yrs and then visit Australia. You expect to save
I am looking how to calculate this question.
After graduation, you plan to work for 15 yrs and then visit Australia. You expect to save $2000, a year for the first 5 years and $3000 annually for the next 10 years. These savings cash flows will start in 1 year. In addition, your family has just given you a $6000 graduation gift. If your gift and all future contributions are put into an account that pays 12% compounded annually, what will your financial stake be wish you leave for Australia 15 years from now?
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