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Will john have enough money saved up to go and why

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John is eagerly waiting for his inheritance from his Father Greg. John wants to take a trip to Mexico. Greg promised John that 3 years from now (2023), he will start to pay out to John under the following year end schedule:

Year 1-3 (2023-2025): $10,000 per year (ordinary annuity)
Year 4 (2026): $15,000
Year 5 (2027): $18,000
John has $4,000 (2020).

Problem1 : He called his travel agent and found out his trip is expected to cost $75,000 at the end of 2027. Will John have enough money saved up to go?

Reference no: EM132756087

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