1-Suppose you plan to deposit $1000 into an account next year, and increase the deposit each year by 5%. How how much will you have in the account after 10 years if the account earns an effective annual return of 9.25%?

2-

Starting next year you plan to deposit $1000 each year into an account earning 9.25% effective annual return. How many years will it take for your account to grow to $20,000?

3-Starting next year you plan to deposit $1000 each year into an account earning 9.25% effective annual return. How many years will it take for your account to grow to $20,000, if you increase your deposit each year by 5%? (Hint: use excel goal seek).