You Just Graduated, and You Plan to Work for 10

question 87

Multiple Choice

You just graduated, and you plan to work for 10 years and then to leave for the Australian "Outback" bush country.You figure you can save $1,000 a year for the first 5 years and $2,000 a year for the next 5 years.These savings cash flows will start one year from now.In addition, your family has just given you a $5,000 graduation gift.If you put the gift now, and your future savings when they start, into an account which pays 8 percent compounded annually, what will your financial "stake" be when you leave for Australia 10 years from now?

• A)
• $21,432
• B)
• $28,393
• C)
• $16,651
• D)
• $31,148
• E)
• $20,000

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Definitions:

Corticosteroids

A class of steroid hormones that are used to reduce inflammation and suppress the immune system.

Irregular Pulse

A heartbeat rhythm that varies in speed or pattern, often indicating underlying heart conditions or health issues.

Dysrhythmia

Abnormal heart rhythm, which could be too fast, too slow, or irregular, affecting how efficiently the heart pumps blood.

Pulse Deficit

The difference between the heartbeats felt at the pulse and the beats heard with a stethoscope at the heart, indicating a discrepancy.