Homework question help needed

Accounting
Tutor: None Selected Time limit: 1 Day

You just graduated and you expect to work for 10 years and then to leave for the Australian country. You figure you can save 1,000 a year for the first 5 years and 2,000 a year for the next 5 years. These savings cash flows will start 1 year from now. Your family just given you a 5,000 gift. If you put the gift now and your future savings when they start into an account that pays 8% compounded annually, what will your financial stake be when you leave for Australia 10 years from now?

Jun 24th, 2015

Thank you for the opportunity to help you with your question!

Hi, attached is the solution of given problem -

Finance-ellery.xlsx

Answer is $31,147.79

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 24th, 2015

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