Account earns nine percent compounded annually

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Reference no: EM131075732

After graduation, you plan to work for Omanyd Corporation for 12 years and then start your own business. You expect to save and deposit $8,450.00 a year for the first 7 years and $16,900.00 annually for the following 7 years, with the first deposit being made a year from today. In addition, your grandfather just gave you a $25,000 graduation gift which you will deposit immediately. If the account earns 9 percent compounded annually, how much will you have when you start your business 12 years from now?

Reference no: EM131075732

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