# Liliana Alvarez S Employer Offers Its Workers A Two Month Paid Sabbatical Every

1. Liliana Alvarez’s employer offers its workers a two-month paid sabbatical every seven years. Liliana, who just started working for the firm, plans to spend her sabbatical touring Europe at an estimated cost of \$25,000. To finance her trip, Liliana plans to make six annual end-of-year deposits of \$2,500 each, starting this year, into an investment account earning 8% interest.

2.

You have saved \$10,000 toward a down payment on a home. The money is invested in an account earning 7% interest. You will be ready to purchase the new home once your savings account grows to \$25,000.

Yes i understand this this answer is available via another course hero user.  But I am trying to figure out how to compute this problem.  I need  step by step process, I am horrible at math and I have to see the whole thing to get it!!   Thank you for helping me to understand how the answer is computed.

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