You plan to work for strickland corporation for 12 years after graduation and after that want to start your own business. you expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). the first deposit will be made a year from today. in addition, your grandmother just gave you a $25,000 graduation gift that you will deposit immediately (t = 0). if the account earns 9% compounded annually, how much will you have when you start your business 12 years from now?
a. $238,176
b. $250,712
c. $263,907
d. $277,797
e. $291,687
Answers: 3
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