Levels Tought:
University
Teaching Since: | Apr 2017 |
Last Sign in: | 347 Weeks Ago |
Questions Answered: | 9562 |
Tutorials Posted: | 9559 |
bachelor in business administration
Polytechnic State University Sanluis
Jan-2006 - Nov-2010
CPA
Polytechnic State University
Jan-2012 - Nov-2016
Professor
Harvard Square Academy (HS2)
Mar-2012 - Present
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?
The----------- st-----------ake----------- at----------- th-----------e e-----------nd -----------of -----------10 -----------yea-----------rs -----------wil-----------l =----------- $3-----------1,1-----------47.-----------79.----------- Th-----------e c-----------alc-----------ula-----------tio-----------ns -----------are----------- as----------- be-----------low-----------: Y----------- ea-----------r O-----------pen-----------ing----------- Ba-----------lan-----------ce -----------Gra-----------dua-----------tio-----------n G-----------ift----------- In-----------ter-----------est----------- Sa-----------vin-----------g f-----------or -----------the----------- ye-----------ar -----------Clo-----------sin-----------g