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You plan on working for the next 10 years and then leave town to explore the Alaskan back country. You figure you can save $1000
You plan on working for the next 10 years and then leave town to explore the Alaskan back country. You figure you can save $1000 a year for the first 5 years and $2000 a year for the last 5 years. In addition, your family has given you a $5000 gift. If you put the gift and your future savings into an account paying 8% compounded annually, how much money will you have saved for your trip into the wilderness?
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