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A monthly payment of $ 5 0 0 is deposited in a retirement savings account at 3 % for 2 0 years. The deposit is

A monthly payment of $500 is deposited in a retirement savings account at 3% for 20 years. The deposit is made at the end of every month. Interest is compounded monthly.At the end of 20 years, the depositor found the balance of the account was inadequate for his retirement and he decided to continue the same deposit plan for another 5 years.How much more, in the nearest dollar, will he have in the account at the end of the 25 years compared to the end of 20 years?

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