After Graduation,you Plan to Work for Dynamo Corporation for 12

question 58

Multiple Choice

After graduation,you plan to work for Dynamo Corporation for 12 years and then 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 grandfather just gave you a $25,000 graduation gift which 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

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Definitions:

Behaviour Therapies

Therapeutic methods aimed at altering undesirable behaviors through conditioning techniques.

Effectiveness

The degree to which something is successful in producing a desired result.

Insight Therapies

Insight therapies are a category of psychotherapies that aim to improve mental health by encouraging self-understanding and insight into one's own behaviors and motivations.

Antidepressant Drugs

Medications designed to alleviate symptoms of depression by adjusting the chemical balance in the brain.