Question: How would you answer this using Excel? Please show step by step and formulas. After graduation, you plan to work for 15 years and then
How would you answer this using Excel? Please show step by step and formulas.
After graduation, you plan to work for 15 years and then visit Australia. You expect to save $2,000 a year for the first 5 years and $3,000 annually for the next 10 years. These savings cash flows will start in one year. In addition, your family has just given you a $6,000 graduation gift. If your gift and all future contributions are put into an account that pays 12% compounded annually, what will your financial stake be when you leave for Australia 15 years from now?
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