You want to make plans to travel the world like you've always dreamed. base on your calculations you estimate this trip will cost J$1,800,000 for air bnb accommodation, plane ticket and other adventures and could be done in a six week period. You plan to take this trip in seven years time, starting during your pre-retirement leave in January 2018. You intend to start building this travel fund in January 2011, and will continue until December 2017.

Your plan is to invest your entire gratuity payment every year starting January 1, 2011. You estimate that your gratuity payment will be $80,000 this year, and will increase by 5% per year after that. Every January until 2017 you plan to open a new certificate of deposit with the entire bonus. You dont intend to withdraw any of these funds until the end of December 2017. What will be the total amount in these accounts in December 2017, if the average expected return on each account is 12% per year?