An investor deposits $ 1000 at the beginning of each year in a special fund paying interest at i(1) = 7%. These interest payments are made at the end of each year and then immediately deposited in a bank account paying interest at i(1) = 2%. (Note that the deposits are also made at the end of each year.)

1. How much money has been accumulated in the bank account at the end of 10 years?

2. How much money has been accumulated for the bank account and the fund totally at the end of 10 years?