Your local bank is offering a new type of retirement savings account. An initial deposit is made to the account when it is opened. This money and any accumulated interest must be left in the account for 25 years. No additional deposits can be made. On the day the account is opened and on each annual anniversary of the initial deposit, the account balance is reviewed and the following terms apply:

• If the account balance is less than or equal to \($20,000,\) interest for the next annual period is 7 percent/year compounded annually.

• If the account balance is greater than \($20,000\) but less than or equal to \($40,000,\) interest for the next annual period is 10 percent/year compounded quarterly.

• If the account balance is greater than \($40,000,\) interest for the next annual period is 12 percent/year compounded monthly.

You decide toopen an accountunder these termstodaywith\($10,000.Howmuchmoneywillyou\) withdrawwhen the account is closed 25 years from today?