Adam plans to retire when he turns 65. He was born on January 1, 1946 and was hired in his current job on January 1, 2001, with a salary of $ 50,000 annually. The company you work for makes contributions to your pension fund on the first day of January, April, July and October until the day you retire. Each contribution is 1% of your annual salary. The pension fund generates a return of 8% convertible quarterly. Adam's salary is outlined to increase 8% every January 1 starting in 2002, the last contribution to the pension fund is made on October 1, 2010. Find the balance in Adam's pension fund when he turns 65