Your vote is not likely to matter (determine the outcome of an election) and you reason that it is irrational to take the time and spend the energy to vote. Others reason similarly and shrink from voting. But if everyone exercises the same logic and only a few people vote, then your vote does have muscle and does matter. This situation is called .

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 $32,500 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?