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You just graduated, and you plan to work for 10 years and then to leave for the austrailian outack bush country. You figure you can
You just graduated, and you plan to work for 10 years and then to leave for the austrailian outack bush country. You figure you can save 1000 a year for the first 5 years and 2000 a year for the next 5 years. These savings cash flows will start one year from now. In addition your family has just given you a 10,000 gift. If you put the gift now, and your future savings when they start, into an acount which pays 6.5% compounded annually, what will your financial stake be when you leaave for australia 10 years from now?
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