Your annual savings of 12225 are deposited into account 3


Suppose you currently have $5,000 in your bank account and plan to save $670 a month (saved dollars are available at the end of each month) for the first 5 years and $12,225 a year (saved dollars are available at the end of each year) for the next 5 years. Your annual savings of $12,225 are deposited into Account # 3, which earns you 8.39% compounded quarterly for 5 years. How much will you have in Account #3 10 years from now?

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Financial Econometrics: Your annual savings of 12225 are deposited into account 3
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