After Graduation, You Plan to Work for Dynamo Corporation for 12

Multiple Choice

After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and deposit $7,500 a year for the first 6 years If the account earns 9% compounded annually, how much will you have when you start your business 12 years from now?

A) $238,176
B) $250,712
C) $263,907
D) $277,797
E) $291,687