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 (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 grandfather just gave you a $25,000
graduation gift which 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?