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Category > Accounting Posted 20 May 2017 My Price 5.00

You plan on working for 10 years and then leaving for the Alaskan

 

You plan on working for 10 years and then leaving for the Alaskan “back country”. You figure you can save $1,000 a year for the first 5 years and $2,000 a year for the last 5 years. In addition, your family has given you a $5,000 graduation gift. If you put the gift and your future savings in an account paying 8 percent compounded annually, what will your “stake” be when you leave for the wilderness 10 years hence?

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 20 May 2017 04:05 PM My Price 5.00

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file 1495297846-Answer.docx preview (164 words )
Y-----------ou -----------pla-----------n o-----------n w-----------ork-----------ing----------- fo-----------r 1-----------0 y-----------ear-----------s a-----------nd -----------the-----------n l-----------eav-----------ing----------- fo-----------r t-----------he -----------Ala-----------ska-----------n -----------b-----------ack----------- co-----------unt-----------ry-----------.----------- Yo-----------u f-----------igu-----------re -----------you----------- ca-----------n s-----------ave----------- $1-----------,00-----------0 a----------- ye-----------ar -----------for----------- th-----------e f-----------irs-----------t 5----------- ye-----------ars----------- an-----------d $-----------2,0-----------00 -----------a y-----------ear----------- fo-----------r t-----------he -----------las-----------t 5----------- ye-----------ars-----------. I-----------n a-----------ddi-----------tio-----------n, -----------you-----------r f-----------ami-----------ly -----------has----------- gi-----------ven----------- yo-----------u a----------- $5-----------,00-----------0 g-----------rad-----------uat-----------ion----------- gi-----------ft.----------- If----------- yo-----------u p-----------ut -----------the----------- gi-----------ft -----------and----------- yo-----------ur -----------fut-----------ure----------- sa-----------vin-----------gs -----------in -----------an -----------acc-----------oun-----------t p-----------ayi-----------ng -----------8 p-----------erc-----------ent----------- co-----------mpo-----------und-----------ed -----------ann-----------ual-----------ly,----------- wh-----------at -----------wil-----------l y-----------our----------- -----------st-----------ake-----------”----------- be----------- wh-----------en -----------you----------- le-----------ave----------- fo-----------r t-----------he -----------wil-----------der-----------nes-----------s 1-----------0 y-----------ear-----------s h-----------enc-----------e? -----------
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