33. 2.109 McCarthy Construction is trying to bring the company-funded portion of its employee retirement fund into compliance with HB-301. The company has already deposited $500,000 in each of the last 5 years. Beginning in year 6, McCarthy will increase its deposits by 15% per year through year 20. How much will be in the fund immediately after the last deposit, if the fund grows at a rate of 12% per year?

Solve using

(a) tabulated factors, and

(b) a spreadsheet.