Answer Happy

You plan to work for Strickland Corporation for 12 years after graduation and after that want to 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 grandmother just gave you a $25,000 graduation gift that 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? O a. $238,176 O b. $291,687 O c. $250,712 O d. $263,907 Oe. $277,797