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

question 104

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 $32,500 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) $236,125
• B) $319,814
• C) $298,892
• D) $295,903
• E) $289,925

---

Definitions:

Positive Social

Refers to behaviors or interactions that have beneficial impacts on individuals or communities, fostering well-being and supportive relationships.

Predict

To declare or indicate in advance; especially to infer future events or outcomes based on current or past information.

Explain

To clarify something by explaining or providing information about it.

Describe

To give a detailed account in words of someone or something, including all the relevant characteristics, qualities, or events.