1. Your grandmother wants to encourage to get your masters degree in finance, and wants you to apply for college right now, and will give you a $500 if you do so. She will then give you $1,000 at the end of every year for five years that you successfully complete college. How much will you have accumulated at graduation, if the market rate is expected to remain at the current 5% till your graduation? Show all work as demonstrated in the live class, and as described in the instructions previously sent to you and posted on Canvas.

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